Case Details for "Level 3 Communications, Inc."

ERISA Breach of Fiduciary Duty Investigation Regarding the Level 3 Communications, Inc. 401(k) Plan

The investigation of Level 3 Communications, Inc. ("Level 3" or the "Company") (Nasdaq:LVLT) is for potential violations of the Employee Retirement Income Security Act of 1974 ("ERISA") and focuses on investments in Company stock in the Level 3 Communications, Inc. 401(k) Plan (the "Plan").

The investigation involves concerns that Level 3 and other administrators of the Plan may have breached their ERISA-mandated fiduciary duties of loyalty and prudence to participants and beneficiaries of the Plan. A breach may have occurred if the fiduciaries failed to manage the assets of the Plan 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 in the Level 3 Communications, Inc. 401(k) Plan who held Company stock in the Plan.

Posted on:03/19/2009
Company: Level 3 Communications, Inc.
Affected Class: participants in the Level 3 Communications, Inc. 401(k) Plan who held Company stock in the Plan
Scope: Nationwide

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