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Lincoln National Corporation may have breached its duties to current and former employees who participated in its 401(K) plan.
Investigation Source
- Nationwide
Investigation Scope
Category Information
Investigation Topics
- Investments
- Retirement Asset
- Investment Advisor Duties
Product or Service
- 401(K)
Injury Type
- Monetary Loss
Investigation Details
Investigation and potential class action lawsuit against Lincoln National Corporation ("Lincoln National") for potential violations of the Employee Retirement Income Security Act of 1974, as amended ("ERISA").
The class action investigation focuses on investments in Lincoln National stock in the Lincoln National Stock 401(k) Savings Plan (the 401(K) Plan"). This investigation involves concerns that Lincoln National and other administrators of the Lincoln National Plan may have breached their ERISA-mandated fiduciary duties of loyalty and prudence to participants and beneficiaries of the Lincoln National Plan.
A breach may have occurred if the fiduciaries failed to manage the assets of the Lincoln National Plan prudently and loyally by investing the assets in Lincoln National when it was no longer a prudent investment for participants' retirement savings.
The class action investigation focuses on investments in Lincoln National stock in the Lincoln National Stock 401(k) Savings Plan (the 401(K) Plan"). This investigation involves concerns that Lincoln National and other administrators of the Lincoln National Plan may have breached their ERISA-mandated fiduciary duties of loyalty and prudence to participants and beneficiaries of the Lincoln National Plan.
A breach may have occurred if the fiduciaries failed to manage the assets of the Lincoln National Plan prudently and loyally by investing the assets in Lincoln National when it was no longer a prudent investment for participants' retirement savings.
Defendant Details
| Name (Stock Symbol) | Brief Description |
|---|---|
| Lincoln National Corporation (LNC) | Lincoln National Corporation, through its subsidiaries, engages in multiple insurance and investment management businesses primarily in the United States. |