O’Reilly Auto Class Action Claims Company Mismanaged Retirement Plan

O’Reilly Profit Sharing Plan ERISA Class Action Lawsuit Overview: 

• Who: A group of O’Reilly Automotive Profit Sharing and Savings Plan participants have filed a class action lawsuit against the company. 
• Why: Participants of the plan claim O’Reilly has mismanaged it, costing them millions of dollars. 
• Where: The class action lawsuit was filed in Missouri federal court. 

O’Reilly Automotive breached its duties to the participants of its Profit Sharing and Savings Plan, a new class action lawsuit alleges. 

A group of retirement plan participants claim O’Reilly failed to treat the plan’s investment portfolio with “due care,” properly maintain the plan or control its “administrative and recordkeeping costs.” 

“Defendants’ mismanagement of the Plan, to the detriment of participants and beneficiaries, constitutes a breach of the fiduciary duty of prudence,” the O’Reilly class action states. 

O’Reilly’s alleged mishandling of its Profit Sharing and Savings Plan has cost both the plan and its participants “millions of dollars,” according to the O’Reilly class action. 

O’Reilly Class Action To Represent Plan Participants Nationwide

Plan participants claim O’Reilly is in violation of the Employee Retirement Income Security Act of 1974. They are demanding a jury trial and requesting declaratory relief along with actual damages for themselves and all class members.

Plan participants want to represent a nationwide class of individuals who have partaken in O’Reilly’s Profit Sharing and Savings Plan since May 2, 2016. 

O’Reilly asked a judge last year to toss a class action lawsuit accusing the company of improperly failing to pay its employees during time spent doing COVID-19 health screenings. 

Have you participated in O’Reilly’s Profit Sharing and Savings Plan? Let us know in the comments! 

The plaintiffs are represented by Kelly M. Spann of Fortmanspann, LLC and Donald R. Reavey and Mark K. Gyandoh of Capozzi Adler, P.C. 

The Class Action Lawsuit is Barrett, et al. v. O’Reilly Automotive, Inc., et al., Case No. 6:22-cv-03111, in the U.S. District Court for the Western District of Missouri.

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