We represented defense and graphic was used in jury trial.  An employee of Quinjet Air and a participant the 401k Savings Plan filed a class proof of claim in the U.S. Bankruptcy Court. The claim was withdrawn and plaintiff was permitted to file an action in federal district court to adjudicate his claims under the Employee Retirement Income Security Act (ERISA).  Plaintiffs alleged that Quinjet Air should have deemed the Common Stock Fund to be an imprudent investment option in the Plan and prevented further investment in the Fund.  Based on this alleged breach, plaintiffs seek monetary damages in the form of a reallocation of any Plan recovery to the individual accounts of those participants who allegedly suffered a loss through their Fund investments. Time Line of Events – Quinjet Air
Defense Counsel – Fortune 1000 Corporation
Federal Jury Trial

An employee of Quinjet Air and a participant in the 401K Savings Plan filed a class proof of claim in the U.S. Bankruptcy Court. The claim was withdrawn and Plaintiff was permitted to file an action in federal district court to adjudicate his claims under the Employee Retirement Income Security Act (ERISA). Plaintiffs alleged that Quinjet Air should have deemed the Common Stock Fund to be an imprudent investment option in the Plan and prevented further investment in the Fund. Based on this alleged breach, Plaintiffs sought monetary damages in the form of a reallocation of any Plan recovery to the individual accounts of those participants who allegedly suffered a loss through their Fund investments.