Loren D. Stark Company
Randall & Hurley, Inc.
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|Lawsuits Put Pressure On Companies To Change 401(k) Plan Rules|
San Francisco Chronicle
Feb. 13, 2002
Excerpt: Although there have been very few lawsuits won against employers who sponsor 401(k) plans, some experts say the mere threat of litigation may cause some firms to loosen restrictions on company stock.... Providian changed the terms of its 401(k) plan on Jan. 1, just a few days after it was named in a 401(k) lawsuit. Previously, employees could not sell company stock they acquired through a company match until they left Providian. Now, they can sell the stock as soon as it has vested.
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