RadioShack Hit With ERISA Suit

Law360, New York (May 15, 2007, 12:00 AM EDT) -- RadioShack Corp. has been hit with a proposed class action lawsuit that accuses it of breaching its fiduciary duty by leading its retiree plan participants to invest heavily in company stock.

In a complaint filed Monday with the U.S. District Court for the Northern District of Texas, the investors of a 401(k) plan and a supplemental stock purchase plan alleged that RadioShack violated the Employee Retirement Income Security Act’s duties of loyalty and prudence.

“This failure runs directly counter to the primary purpose of the plans,...
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