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First American may have violated its fiduciary duties to those current and former employees that bought First American stock for their company sponsored 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 pending ERISA class action complaint against First American Corp. on behalf of all persons who were participants in or beneficiaries of the First American Corporation 401(K) Savings Plant, between April 17, 2007 and the present and whose accounts included investments in First American common stock.
The class action complaint alleges that during the Class Period, First American breached its fiduciary duties to plan participants by: failing to prudently and loyally manage the Plans' assets; failing to monitor fiduciaries; failing to provide complete and accurate information to the Class; and participating in a breach by a non-fiduciary.
The class action complaint alleges that during the Class Period, First American breached its fiduciary duties to plan participants by: failing to prudently and loyally manage the Plans' assets; failing to monitor fiduciaries; failing to provide complete and accurate information to the Class; and participating in a breach by a non-fiduciary.
Defendant Details
| Name (Stock Symbol) | Brief Description |
|---|---|
| First American Corporation (FAF) | First American Corporation provides title insurance, other specialty insurance, escrow services and data analytics to the home loan industry. |