10.1.2003

DOL Takes Sides in Civil Suit Against Corporate Board of Directors

The U.S. Department of Labor (DOL) recently filed an amicus brief with a federal court in Oklahoma in support of a class action lawsuit brought by 401(k) plan participants against the board of directors of the company that sponsored their plan. As discussed below, the position taken by the DOL has potentially significant implications for directors of corporations which sponsor retirement plans – especially retirement plans that permit investment in the stock of the sponsoring corporation. View full article (PDF).