Case Details for "Lincoln National Corporation"

ERISA Breach of Fiduciary Duty Investigation of the Lincoln National Employees' Savings and Profit-Sharing Plan and the Lincoln National Insurance Agents' Savings and Profit-Sharing Plan

Lincoln National Corporation ("Lincoln" or the "Company") (NYSE:LNC) is being investigated for potential violations of the Employee Retirement Income Security Act of 1974,("ERISA"). The investigation focuses on investments in Company stock in the Lincoln National Corporation Employees' Savings and Profit-Sharing Plan and the Lincoln National Insurance Company Agents' Savings and Profit-Sharing Plan (collectively, the "Plans").

The investigation involves concerns that Lincoln and other administrators of the Plans may have breached their ERISA-mandated fiduciary duties of loyalty and prudence to participants and beneficiaries of the Plans. A breach may have occurred if the fiduciaries failed to manage the assets of the Plans prudently and loyally by investing the assets in Company stock when it was no longer a prudent investment for participants' retirement savings.

Investigators are speaking with participants of the Lincoln National Corporation Employees' Savings and Profit-Sharing Plan or the Lincoln National Insurance Company Agents' Savings and Profit-Sharing Plan who held Company stock in either Plan.

Posted on:03/19/2009
Company: Lincoln National Corporation
Affected Class: participants of the Lincoln National Corporation Employees' Savings and Profit-Sharing Plan or the Lincoln National Insurance Company Agents' Savings and Profit-Sharing Plan who held Company stock in either Plan
Scope: Nationwide

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