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Case Details for "Textron, Inc."

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ERISA investigation of the Textron Savings Plan

Lawyers are investigating possible illegal conduct relating to the Textron Savings Plan (the "Plan") arising from facts alleged in a class action complaint filed in the United States District Court for the District of Rhode Island against Textron, Inc. ("Textron") (NYSE:TXT) and other defendants.

The investigations centers on on whether certain fiduciaries of the Plan may have violated the Employee Retirement Income Security Act of 1974 ("ERISA") by continuing to offer and maintain Textron common stock as a Plan investment when it was imprudent to do so, and by failing to disclose Textron's true financial condition to the Plan's participants.

If you have or had an individual account with the Textron Savings Plan, and your account(s) holds or held Textron common stock, you may have legal claims under ERISA.

 

Posted on:08/25/2009
Company: Textron, Inc.
Affected Class: Participants of the Textron Savings Plan
Scope: Nationwide

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