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A McDonalds class action lawsuit investigation has been launched against the company following allegations that the company mistreated their investments. At issue are allegations that the mistreatment resulted in a loss of value for retirement plans offered to certain McDonald’s positions. Directors of Operations, District Manager Supervisors, District Trainers, as well as other employees may be eligible to win compensation.
McDonald’s offers a variety of tax-deferred 401k plans for employees. The employees may put from 1 percent to 50 percent of their pay into their 401k, with McDonald’s offering to match the contributions in varying amounts based on employee contributions. Employees such as District Manager Supervisors often depend upon this fund as their source of income during retirement. However, McDonald’s has been accused of making unwise investments that have decreased the value of McDonalds 401k plans.
McDonald’s has a fiduciary duty to act in the best interest of their investors who are, in this case, their employees. The McDonalds 401k must fit specific guidelines as set forth by the Employee Retirement Income Security Act of 1974 (ERISA). ERISA was created in order to protect employees by setting requirements employers must meet to ensure a strong retirement for the employee. Companies who violate ERISA are vulnerable to lawsuits. The violations might involve a company making investments that are too risky, are a conflict of interest, or are concentrated in one place (diversity of investments helps secure the safety of all investors should one investment fail to profit).
McDonald’s has allegedly breached their fiduciary duty by making unsuitable investments. Some employees have voiced their concerns over the safety of their McDonalds 401k plans.
The following McDonalds employees may join the McDonalds class action lawsuit investigation that has been launched:
- Supervisors
- Managers
- Assistant Managers
- Shift Managers
- Crew Trainers
- District Manager Supervisors
- District Supervisors
- District Trainers
- Directors of Operations
- Other management/corporate positions
There is currently a six-year statute of limitations for lawsuits and class action lawsuits such as the McDonalds class action lawsuit. Plaintiffs may only be allowed to file claims concerning McDonalds 401k plans if they fit within the timeframe. However, the U.S. Supreme Court is reviewing a different class action lawsuit (also involving 401k plans) that may alter the statue of limitations and have an impact on this McDonald’s investigation.
Directors of Operations, District Manager Supervisors, District Trainers, and other employees may be eligible to receive compensation for the loss in value of their McDonalds 401k plan. McDonald’s may be required to pay heavily for their alleged investing violations.
Join a Free McDonalds 401k Class Action Lawsuit Investigation
A class action lawsuit investigation is currently underway to pursue the possibility of taking legal action against McDonalds for potentially violating ERISA. If you are a McDonalds employee who signed up for a McDonalds 401k account since 2007, you may have a legal claim.
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