Stay updated with breaking news from Daniel Draney. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
A federal court judge in Los Angeles has rebuffed a lawsuit by participants in a Westco Chemicals Inc. 401(k) plan who argued that executives breached their ERISA duties by offering only certificates of deposit in the plan menu. U.S. District Court Judge Otis D. Wright II ruled the plaintiffs…
ADVERTISEMENT ADVERTISEMENT Westco Chemicals Reaches ERISA Class Action Settlement Law360 (May 10, 2021, 7:45 PM EDT) -- Westco Chemicals inked a deal to wrap up class action claims that it mismanaged its employees' retirement savings, with two former workers notifying a California federal judge that their Employee Retirement Income Security Act suit was settled two months before a scheduled trial. Daniel Draney and Lorenzo Ibarra informed U.S. District Judge Otis D. Wright of the deal in a notice of class action settlement filed Friday. The notice indicates that more information about the s...