Making Employer Stock Safe for Your 401(k) Plan

Law360, New York (March 1, 2007, 12:00 AM EST) -- As the saying goes, "Heads I win, tails you lose." Many Employee Retirement Income Security Act (ERISA) plaintiffs' lawyers, no doubt, felt this way following the economic implosions of Enron, WorldCom, Dynegy, and others.

The bad facts giving rise to the collapse of the 401(k) plan's company stock holdings in Enron resulted in an avalanche of civil lawsuits and an adverse district court decision. Aberrant behavior by a few executives at Enron mushroomed into a new ERISA litigation industry.

Variations on the Enron theme soon emerged....
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