Employees Seek Reversal Of Ruling In Bank’s Favor On Accounting-For-Profit Claim

Mealey's (October 30, 2017, 1:31 PM EDT) -- RICHMOND, Va. — Plaintiff employees in a decade-long case over a bank's illegal transfer of assets from a 401(k) plan to an Employee Retirement Income Security Act pension plan recently asked the Fourth Circuit U.S. Court of Appeals to reverse a lower court’s finding that they failed to show that any profit was retained by the bank as a result of the transfer (William L. Pender, et al. v. Bank of America Corp., et al., No. 17-1485, 4th Cir.)....