New York, New York (PRWEB) August 25, 2013
Zamansky, LLC announces that it has commenced an investigation over Sears Holding Corp.'s 401(k) Savings Plan. According to the Annual Report filed with the SEC on June 28, 2013, available at http://www.sec.gov, the Plan had $68 million invested in company stock. The investigation concerns whether there were violations of the Employee Retirement Income Security Act (“ERISA”) by the Plan fiduciaries.
On August 22, 2013, Bloomberg reported that Sears had posted wider losses that were associated primarily with its failing loyalty program called Shop Your Way. Sears has now reported 26 consecutive quarters of sales declines, Bloomberg reports.
According to ERISA attorney Jacob Zamansky, Sears employees who hold company stock under the Plan should be concerned. Sears' management has not delivered, Zamansky states. The investigation concerns whether the Plan's fiduciaries have breached duties owed to Sears' employees, according to Zamansky.
What Former or Current Sears Employees Can Do
If you are a Sears employee or former employee who purchased company stock under Plan, and would like to discuss your legal rights, you may, without obligation or cost to you, email jake(at)zamansky(dot)com or call the law firm at (212) 742-1414.
To learn more about Zamansky, please visit our website, http://www.zamansky.com.
About Zamansky, LLC
Zamansky LLC is one of the leading securities fraud law firms specializing in securities class actions and securities arbitration, and ERISA class action litigation. We are stock fraud attorneys who represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover losses.
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New York, NY 10004
Jake Zamansky, 212-742-1414