US. Home Depot hit with ERISA class action claiming retirement plan mismanagement
Two former Home Depot Inc workers on Thursday filed a proposed class action in Atlanta federal court seeking $140 million in damages for the alleged mismanagement of the company’s employee retirement plan.
The workers alleged Home Depot violated its fiduciary duties under the Employee Retirement Income Security Act by selecting poorly performing funds, allowing advisors to charge unreasonable fees and by not identifying a kickback scheme between an advisor and the plan’s recordkeeper.
Read More: Reuters