LandAmerica Execs Hit With ERISA Class Action

Law360, New York (June 9, 2011, 6:47 PM EDT) -- A former LandAmerica Financial Group Inc. employee filed a putative class action against the bankrupt insurer's executives in Virginia federal court on Wednesday, claiming LFG's retirement plan continued to invest in LFG stock after it was no longer prudent.

The complaint names most of LFG's top brass as defendants, including former CEO Theodore Chandler and more than a dozen directors who oversaw the investment options for the retirement plan, and accuses the directors of breaching their fiduciary duties under the Employee Retirement Income Security Act....
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