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Beazer Homes may have breached its fiduciary duties to participants 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 a pending ERISA class action lawsuit on behalf of Plaintiffs and a class of all persons who were participants in or beneficiaries of the Beazer Homes USA, Inc. 401(k) Plan (the "Plan"), between July 28, 2005 and May 12, 2008 and whose accounts included investments in Beazer Homes common stock.
The class action lawsuit alleges that Beazer Homes breached its fiduciary duties to current and former employees by:
(1) failing to prudently and loyally manage the Plan's assets;
(2); failing to monitor fiduciaries;
(3) failing to disclose necessary information to co-fiduciaries; and
(4) failing to provide complete and accurate information to the Class
The class action lawsuit alleges that Beazer Homes breached its fiduciary duties to current and former employees by:
(1) failing to prudently and loyally manage the Plan's assets;
(2); failing to monitor fiduciaries;
(3) failing to disclose necessary information to co-fiduciaries; and
(4) failing to provide complete and accurate information to the Class
Defendant Details
| Name (Stock Symbol) | Brief Description |
|---|---|
| Beazer Homes USA, Inc. (BZH) | Beazer Homes USA, Inc. is a home builder operating in 40 markets in the US. |