Case Study Of V. Lamettry s Collission, Inc.
Case Study Of V. Lamettry s Collission, Inc.
269 Words2 Pages
United States District Court of Minnesota: Debbie Damberg and Tony Severson, on behalf of LaMettryâs 401(k) Profit Sharing Plan, Plaintiffs. V. LaMettryâs Collission, Inc., Steven P. Daniel, and Joanne M. LaMettry, Defendants
This lawsuit was from May 2016. Plaintiffs on behalf of all similarly situated participants and beneficiaries of the LaMettryâs 401(k) Profit Sharing Plan brought a lawsuit to recover financial losses suffered by the Plan and obtain injunctive and other equitable relief for the Plan from LaMettryâs (Plan Sponsor) and their CFO, Steven P. Daniel and President Joanne LaMettry (collective trustees) based on breaching their fiduciary duties. The lawsuit claimed the Defendants breached their duties under ERISA by: 1) causing