SRKW represents ERISA plan participants to bring important changes to the plan

In Pennsylvania Federation, BMWE v. Norfolk Southern Corp., the Firm represented 401(k) plan participants in an innovative ERISA case which resulted in important changes to the plan. SRKW was able to demand that all future employer contributions will go into the investment vehicles chosen by the plan participants (rather than plan managers, who had previously invested the employer’s contributions in the company’s stock in violation of their fiduciary obligations). The Firm was also able to insist that going forward plan participants would be provided with additional information about the merits of diversified investments. The defendants also agreed to pay the costs of litigation, attorney’s fees, and $1 million to the class.