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DOL Files Suit Against Fiduciaries of Severstal Wheeling Inc. Retirement Plans: Alleged Misconduct Caused More Than $7m in Plan Losses
Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL] Link to more items from this source
Nov. 4, 2014
"The [DOL] has filed a lawsuit to protect participants in the Wheeling Corrugating Company Retirement Security Plan and the Salaried Employees' Pension Plan of Severstal Wheeling Inc.... Filed in the U.S. District Court for the Western District of Pennsylvania, the suit seeks to order the defendants to restore to the plans all losses, including interest or lost opportunity costs ... It also seeks to remove the Retirement Committee as fiduciaries for the plans and appoint an independent fiduciary with authority to manage the plans. The plans previously terminated their relationship with WPN and LaBow."

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