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DOL Sues Trustees Over Company Stock Purchases
PLANSPONSOR; free registration may be required Dec. 8, 2009
Excerpt: The U.S. Department of Labor is suing the trustees and other fiduciaries of the employee stock ownership plans and eligible individual account plans of DirecTECH Holding Co. Inc. and its former subsidiaries for allegedly using plan assets to purchase company stock at inflated prices in violation of the Employee Retirement Income Security Act (ERISA).
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