Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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L-3 Executives Cleared in ERISA Suit Over Stock Losses
Bloomberg BNA Oct. 6, 2017
"The lawsuit said [L-3 Communications Corporation's Chief Executive Officer and Chief Financial Officer] were wrong to continue allowing L-3 workers to invest retirement savings in the company's stock when an ongoing accounting fraud caused the stock to be artificially inflated. The judge rejected these allegations, saying the plan participant who sued failed to show that the executives should have known that an ongoing fraud was making L-3 stock an imprudent investment." [Price v. Strianese, No. 17-652 (S.D.N.Y. Oct. 4, 2017)]
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