Wanted: A new face for a Healthways class action – and the ability to make meetings

By Geert De Lombaerde Posted on September 25, 2009 at 2:08 am

The class action that took to task disease manager Healthways about its use of company stock in its 401(k) plan has been voluntarily dismissed because the lead plaintiff couldn’t make it to a deposition and had to withdraw from the case. The matter had been in the discovery phase with a trial date scheduled for next April.

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Tags: 401(k) plan, class actions, disease management, Gainey & McKenna, Healthways Inc., investment management, litigation  

More to come in the courtroom

By Geert De Lombaerde Posted on February 9, 2009 at 9:45 pm

Healthways says a purported class action over the role of company stock in its 401(k) plan will proceed in part. Filed under ERISA, the suit contends Healthways’ board and management should have more closely monitored the plan and removed Healthways shares (Ticker: HWAY) when “it it allegedly became an imprudent investment.”

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Tags: 401(k) plan, class actions, Healthways Inc., litigation  

CHS picks new 401(k) provider

By Geert De Lombaerde Posted on January 8, 2009 at 9:47 am

The Franklin-based hospital operator (Ticker: CYH) chooses Principal Financial Group to handle its $1.4 billion plan.

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Tags: 401(k) plan, Community Health Systems Inc., hospital management, investment management, Principal Financial Group  

401(k) switch at Pinnacle

By Geert De Lombaerde Posted on December 23, 2008 at 12:54 pm

The largest bank based in Nashville goes for American Funds.

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Tags: 401(k) plan, American Funds Distributors Inc., banking, Pinnacle Financial Partners Inc.  

Ceased-to-be company gets sued by government

By Kleinheider Posted on December 22, 2008 at 5:10 pm

Via the AP:

The U.S. Department of Labor has sued a defunct Nashville-area company for not paying the assets from its 401(k) plan.

The department said Midland Employer Services of Brentwood owes an estimated $190,000 to 25 participants.

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Tags: 401(k) plan, Brentwood, Department of Labor, Midland Employer Services, Nashville