January 21, 2026
A Pennsylvania federal judge on Wednesday dismissed two Schwab companies from a U.S. Department of Labor enforcement case, finding the financial services providers' participation was no longer needed in the agency's dispute against another firm.
July 30, 2024
A financial planner agreed to pay $20 million to 17 retirement plans it manages to resolve a lawsuit from the U.S. Department of Labor accusing it of improperly shuffling money between accounts and embezzling at least $5 million in plan assets, a filing in Pennsylvania federal court said.
February 14, 2024
Hundreds of retirement and profit-sharing plans will be allowed to find new management amid the U.S. Department of Labor's investigation into allegations their previous administrator improperly shuffled and may have embezzled millions of dollars from 17 of them, a Pennsylvania federal judge said Wednesday.