Lifetouch directors suit alleges mismanagement of ESOP

Bloomberg Law reports a March 1 class-action lawsuit alleges Lifetouch Inc. employees suffered “hundreds of millions of dollars” in damages by investing their retirement plans in the company’s employee stock ownership plan (ESOP). The suit alleges the company’s board did not do enough to protect workers’ retirement savings in the ESOP, as the value of the company’s stock declined more... Read More