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Case ID: 4081 | Employment | 12/21/2004
A class action lawsuit has been filed in the Southern District Court of Indiana against ITT Educational Services, Inc. for violations of the Employee Income Retirement Securities Act (ERISA). ERISA is a federal law that sets minimum standards for most voluntarily established pension and health plans in private industry to provide protection for individuals in these plans. Class members seek the restoration of plan assets, damages, attorney's fees and costs of the litigation.
Specifically, the complaint alleges that the ITT Educational Services, Inc., an Indiana based provider of technology-oriented postsecondary degree programs, failed to exercise the required care, skill, prudence, and diligence in administering a 401(k) plan between October 17, 2002 and March 18, 2004 (the class period) by: • Failing to prudently manage the assets of the plan by maintaining investment in shares of ITT stock for the plan under circumstances which they could not possibly have believed that continued investment in ITT stock was prudent; • Failing to properly monitor the plan fiduciaries to ensure that they were prudently and loyally serving the interests of plan participants; • Failing to remove and replace fiduciaries whom they knew, or should have known, were acting disloyally and imprudently with respect to the plan and its assets; • Failing to provide complete and accurate information to the plan's participants and beneficiaries and to refrain from providing false information or concealing material information regarding the plan's investment options to allow participants to make informed decisions; • Failing to avoid conflicts of interests and to resolve them promptly when they occur by continuing to allow ITT stock as an investment for the plan during the class period, by failing to engage independent fiduciaries and/or advisors who could make independent judgments concerning the plan's investment in ITT stock and finally, by failing to notify the Department of Labor about the information which made employer stock an unsuitable investment for the plan. At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Employment Cases of Interest A class action lawsuit has been filed in the Southern District Court of Ohio against Maxim Health Systems, LLC, a health care company who employs more than 56,000 clinicians, allied health professionals, physicians and administrative personnel in cities across the US, for violations of the Fair Labor Standards Act (FLSA) which establishes minimum wage, overtime pay, recordkeeping, and child labor standards affecting full-time and part-time workers in the private sector and in Federal, State, and local governments. Class members seek to recover unpaid overtime compensation, liquidated damages, attorney's fees and costs of the litigation.
A class action lawsuit has been filed in the Northern District Court of Illinois against Abbott Laboratories and Hospira, Inc. for violations of the employee retirement income security act (ERISA). California labor law requires that employees working on commission be given similar consideration as hourly workers. A class action has been filed against technology merchant Circuit City Stores West Coast, Inc. and its parent Circuit City Stores, Inc. on behalf of all "commission only" salespersons who worked at a Circuit City Store in California from March 1999 to March 2003, alleging that the company failed to pay them for work they performed as required by California labor law. A statewide collective action has been filed in Alabama against Lowes Companies, Inc. The action is brought on behalf of all hourly and salaried employees of Lowes that have worked beyond 40 hours per week without proper overtime compensation. The action is brought under the federal Fair Labor Standards Act and seeks statutory and liquidated damages as well as injunctive and declaratory relief. As a collective action, each potential claimant is required to "opt-in" in order to be considered a member of the class. The employees have requested that the court issue notice to all potential claimants. A class action lawsuit has been filed in the Southern District Court of Florida against Rones, Inc DBA La Pizzeria. The case involves violations of the Fair Labor Standards Act (FLSA). No additional information about the substance of the allegations is available at this time. Classactionamerica.com will monitor this case and provide additional details as soon as they become available. Laborers employed by Terminix International Company have filed a class action lawsuit against the nationwide extermination service and its parent company, Servicemaster. The lawsuit claims that the defendants require employees to work hours in excess of 40 per week without receiving overtime. The complaint alleges that this denial of overtime violates the federal Fair Labor Standards Act. The plaintiffs seek an award of the unpaid overtime together with interest, costs and other damages. |
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