Keller Rohrback L.L.P. Investigates Sears Holding Corp. 401(k) Savings Plan on Behalf of Sears and Kmart Employees
March 23, 2017
Keller Rohrback L.L.P. is investigating possible significant losses resulting from Sears Holding Corp. 401(k) Savings Plan (“Plan”) investments in the common stock of Sears Holding Corp. (SHLD), the parent company of Kmart and Sears, Roebuck & Co (collectively, “Sears”). Sears recently warned that it may not continue as a going concern after years of losses and declining sales. Since 2013, the struggling retailer has accumulated $7.4 billion in losses and has seen its revenue fall 44%. Sears stock lost 47% of its value in the last year, 90% in the past five years, and 95% in the last ten years.
Keller Rohrback’s investigation focuses on whether Sears and related Plan fiduciaries breached their duties in violation of the Employee Retirement Income Security Act of 1974 (“ERISA”) by maintaining the Sears company stock fund in the Plan, while the stock price plummeted and the financial condition of Sears deteriorated. These breaches may have resulted in multi-million dollar losses of the Plan participants’ retirement savings.
About Keller Rohrback L.L.P.
For decades, investors have trusted the attorneys at Keller Rohrback L.L.P. to help them recover losses due to breaches of fiduciary duty. Keller Rohrback L.L.P. has a national reputation for groundbreaking ERISA class action litigation, and serves as lead and co-lead counsel in ERISA and other class actions throughout the country. With offices in Seattle, Phoenix, New York City, Ronan, Santa Barbara, and Oakland, our Complex Litigation Group is proud to offer its expertise to clients nationwide. Our trial lawyers have obtained judgments and settlements on behalf of clients in excess of eighteen billion dollars.