The Employee Retirement Income Security Act of 1974 (ERISA) is a Federal law that protects employee pension plans and other benefits provided by private employers.
Litigation under ERISA enables plan participants to seek redress from benefit management negligence, such as breaches of fiduciary responsibility, lack of fairness in pension plan coverage, denial of healthcare coverage/benefits, and failure to provide adequate disclosure of plan terms.
In recent years, ERISA cases have focused on corporations that encourage or compel their employees to invest their pension plan cash in company stock. When these companies commit accounting fraud, engage in other illegal activity or simply pursue speculative business strategies, the company stock becomes an inappropriate investment option and the beneficiaries can seek recoveries for losses.
BLB&G has enormous experience in advancing employee rights under ERISA and related laws, as evidenced in such cases as Roberts v. Texaco and Butcher v. Gerber Products, in which we achieved groundbreaking reform and restitution for victims of workplace discrimination.
Additionally, the firm has tried and settled many of the most high profile securities fraud actions in history, recovering billions of dollars on behalf of investors harmed by corporate scandals, often as a result of accounting fraud and mismanagement of company assets.