Investigation Type: ERISA
Company Name: Linear Technology
Sanford Heisler Sharp LLP is evaluating whether persons who worked at Linear Technology prior to the Analog Devices merger were victims of 401(k) mismanagement.
Our research indicates that the Linear Plan offered employees higher-cost mutual fund options instead of offering cheaper options of the exact same mutual fund. Our research shows that of the 29 mutual fund options offered by the Linear Plan in 2014, 27 were available to the Plan in cheaper options. The disparity in the fees is not a modest sum. Between 2014 and 2018 alone, we believe the mutual fund options offered by the Plan resulted in some 2,000 plan participants overpaying millions of dollars in costs and fees.
We would like to hear from any person who worked at Linear Technology and participated in the company’s 401(k).
Our research also indicates the Linear Plan retained poorly performing investment options despite a market with better-performing alternatives. We believe the decision to not remove these investment options cost Plan participants millions of dollars in retirement savings.
If you were a participant in the Plan at any time prior to the Analog Devices merger, please contact one of our attorneys listed below:
Charles H. Field (bio)
David Tracey (bio)