Thread regarding Sears layoffs

Worried about your retirement savings or 401k

Keller Rohrback L.L.P. Investigates Sears and Kmart Employee Retirement Plan

April 10, 2017 06:00 AM Eastern Daylight Time

SEATTLE--(BUSINESS WIRE)--Attorney Advertising. Keller Rohrback L.L.P. is investigating possible significant losses resulting from Sears Holding Corp. 401(k) Savings Plan investments in the common stock of Sears Holding Corp. (SHLD), the parent company of Kmart and Sears, Roebuck & Co (“Sears”). Sears warned on March 21, 2017 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.

Our 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 company’s condition deteriorated. These breaches may have resulted in multi-million dollar losses of the Plan participants’ retirement earnings.

If you would like more information regarding our investigation, please contact attorney Tanya Korkhov via email at ERISAClaim@KellerRohrback.com or at 800.776.6044.

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Post ID: @OP+MJaTeZw

7 replies (most recent on top)

all SHC employees that had SHC stock as part of their 401K were forced to divest at the end of calendar 2016.

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Post ID: @1eik+MJaTeZw

They are just now looking into it? It would be nice if they looked into the credit card fraud too. Moving people from the blue Sears card over to a MasterCard right before the end. Or how they are showing products delivered so members or the sales people can't can't cancel them. Products they never received.

There is so much more going on than the pension fund. The pension fund is a biggie. The others stuff is big as well.

Dirty company.

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Post ID: @1wje+MJaTeZw

they will have problems with this and the junk SHLD bonds in the pension too

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Post ID: @1klj+MJaTeZw

They will investigate and find that the pension plan is up 16% in 2016 and that the $2.1B gap has basically been cut in half with the addition of a lien on $100m properties and $250m from the craftsman sale....plus theres a nice reduction in the liability of the pension if the federal reserves interest rate goes up. ~400m reduction for every 1% point the fed rate goes up.

$3.2B(assets 2016)*1.16 = $3.71B + .250B (craftsman) + .100B (property lien) = $4.1B (Assets Mar31,2017).

$5.3B (obligation) - $4,1B = $1.2B is the total unfunded liability as of now.

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Post ID: @ycj+MJaTeZw

Forgive my ignorance but who was forced to divest from Sears stock?

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Post ID: @ijh+MJaTeZw

Your dam right iam worry about it, I'll jump on that band wagon.

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Post ID: @aas+MJaTeZw

Everyone was forced to divest from Sears stock before the end of 2016 so this is a moot point.

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Post ID: @yhg+MJaTeZw

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