The lawsuit claims Bausch & Lomb and the plan administrators may have breached their fiduciary duties of loyalty and prudence to the Plan's participants. A breach may have occurred if the fiduciaries failed to prudently manage the Plan's assets, by among other things, offering Bausch & Lomb stock as a Plan investment option, requiring participants to invest in the stock, and investing and holding matching contributions in the stock at a time when the stock was not a suitable and appropriate investment option. A breach also may have occurred if the fiduciaries withheld or concealed material information from the Plan's participants with respect to the Company's business, financial results and operations, thereby encouraging participants and beneficiaries to continue to make and maintain substantial investments of company stock in the Plan.
A class action lawsuit has been filed against the company for potential violations of the Employee Retirement Income Security Act of 1974. The investigation focuses on investments in BOL stock by the Bausch & Lomb 401k Account Plan.
The lawsuit claims Bausch & Lomb and the plan administrators may have breached their fiduciary duties of loyalty and prudence to the Plan's participants. A breach may have occurred if the fiduciaries failed to prudently manage the Plan's assets, by among other things, offering Bausch & Lomb stock as a Plan investment option, requiring participants to invest in the stock, and investing and holding matching contributions in the stock at a time when the stock was not a suitable and appropriate investment option. A breach also may have occurred if the fiduciaries withheld or concealed material information from the Plan's participants with respect to the Company's business, financial results and operations, thereby encouraging participants and beneficiaries to continue to make and maintain substantial investments of company stock in the Plan.
The lawsuit claims Bausch & Lomb and the plan administrators may have breached their fiduciary duties of loyalty and prudence to the Plan's participants. A breach may have occurred if the fiduciaries failed to prudently manage the Plan's assets, by among other things, offering Bausch & Lomb stock as a Plan investment option, requiring participants to invest in the stock, and investing and holding matching contributions in the stock at a time when the stock was not a suitable and appropriate investment option. A breach also may have occurred if the fiduciaries withheld or concealed material information from the Plan's participants with respect to the Company's business, financial results and operations, thereby encouraging participants and beneficiaries to continue to make and maintain substantial investments of company stock in the Plan.
Stay Informed
Get the latest on class action lawsuits, settlements & more! Subscribe to our free weekly newsletter.
Get our Newsletter!
Submit a New Complaint
Been wronged by a similar product or service?
Click here to send us your complaint.
