NOTICE TO CURRENT AND FORMER EXXON (XOM) EMPLOYEES: Zamansky LLC Filed an ERISA Class Action Lawsuit for all Exxon Mobil Savi...
January 06 2017 - 4:40PM
Business Wire
On November 23, 2016, Zamansky LLC filed a class action lawsuit
and has been appointed lead counsel on behalf of all current and
former employees of Exxon Mobil Corporation (NYSE:XOM) (“Exxon”)
who were participants in the Exxon Mobil Savings Plan (the “Plan”).
The lawsuit alleges violations of the federal Employee Retirement
Income Security Act (“ERISA”) by the Plan’s fiduciaries. ERISA
imposes fiduciary duties to prudently manage and invest plan
assets.
Any current or former Exxon employees who purchased and held
Exxon (XOM) stock through the Plan from November 2015 through
October 2016 is potentially eligible for the class, according to
Jake Zamansky, a leading employee stock fraud attorney. The ERISA
lawsuit follows the securities fraud class action that was filed
against Exxon, alleging that Exxon’s stock price was artificially
inflated due to overstated oil and gas reserves in view of the
costs associated with global climate change. The allegations raise
serious issues whether the Plan’s fiduciaries properly executed
their duties under ERISA, Zamansky states, and whether they should
have acted to protect the employees’ retirement savings.
What Current and Former Exxon Employees Can Do
If you are an existing or former Exxon employee who purchased
and held Exxon stock from November 2015 through October 2016
through the Exxon Mobil Savings Plan, you may be eligible to be a
class member. To participate or for an evaluation of your
eligibility, please contact Jake Zamansky by telephone at (212)
742-1414 or by email at jake@zamansky.com.
About Zamansky LLC
Zamansky LLC is a leading stock law firm specializing in
securities fraud, ERISA and employment class actions. We are
investment fraud attorneys who represent both individual and
institutional investors. Our practice is nationally recognized for
our ability to aggressively prosecute cases and recover investment
losses.
To learn more about Zamansky LLC, please visit our website,
http://www.zamansky.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170106005709/en/
Zamansky LLC50 Broadway, 32nd FloorNew York, NY 10004Jake
Zamansky, (212) 742-1414jake@zamansky.com
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