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Company Faces Class Action Suit over Alleged Violations of ERISA Plan
Online Legal MediaLink to more items from this source
Apr. 23, 2010

Excerpt: Investigators are focused on a number of questionable investments in company stock in the Boston Scientific Corporation's 401(k) Savings Plan. The plaintiffs claim that BSC and other administrators of the savings plan violated the Employee Retirement Income Security Act of 1974 (ERISA) by failing to manage the assets of the plans prudently and loyally. The suit alleges that the company continued to invest employee funds in company stock despite difficulties and losses that made the plan no longer a prudent investment for participants' retirement savings.

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