A Philadelphia-based law firm that closed last year after nearly 90 years in business has been hit with a class action claiming it unlawfully used pension contributions to help run the firm and pay its shareholding partners, harming other partners and employees.
Plaintiff Jo Bennett sued Schnader Harrison Segal & Lewis in U.S. federal court in Philadelphia, claiming the defunct firm violated of the federal Employee Retirement Income Security Act.
Bennett, who was a non-ownership partner at the firm, lodged her lawsuit on
behalf of participants and beneficiaries of Schnader Harrison’s retirement and savings plan, which was regulated by the federal employee retirement income
law. Read more.
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Additional writing by Sandeep Shekhar Ghoshal.
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