Filed Under:Markets, Employee Benefits

California firm hit with million-dollar retirement judgement

A California company and its management team have been ordered by the U.S. District Court for the Northern District of California to repay $1.1 million to 13 employee benefit plans.

The Department of Labor’s Employee Benefits Security Administration had sued Zenith Capital, an investment advisory firm in Santa Rosa, Calif.,  and its three retirement plan fiduciaries, Rick Lane Tasker, Martel Jed Cooper and Michael Gregory Smith for breach of their fiduciary duty.

Originally published on BenefitsPro. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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Nichole Morford

Nichole Morford
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