NEW ORLEANS, April 21, 2006 (PRIMEZONE) -- Kahn Gauthier Swick, LLC ("KGS") announces that it is investigating the financial losses suffered by employees and former employees of Lear Corporation (NYSE:LEA) who participated in the company's 401(k) plan under the Employee Retirement Income Security Act of 1974 ("ERISA").
Lear Corporation and its ERISA Plan administrators may have violated the law and breached important duties of trust and prudence owed to Plan participants. Lear employees' 401(k) accounts may have been weighted too heavily with Lear stock. Further, these accounts may have been overly invested in Lear stock during the time Lear shares declined significantly in value, thereby resulting in excessive losses for Lear employees.
If you are a former Lear employee who participated in Lear's 401(k) Account Plan and are interested in protecting the value of your investment, you are encouraged to e-mail or call KGS, without obligation or cost to you. You may contact Lewis Kahn of KGS toll free 1-866-467-1400, ext. 100, via cell phone at 504-301-7900, or by email at lewis.kahn@kglg.com.
KGS has significant experience litigating ERISA actions, and we are paid a fee if and only if we obtain a recovery.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca