Zamansky LLC announces that it has commenced an investigation of Best Buy Co., Inc. (NYSE: BBY) (“Best Buy” or the “Company”) over its Employee Savings Plan for violations of the federal Employee Retirement Income Security Act (“ERISA”). ERISA imposes fiduciary duties on companies to prudently manage and invest plan assets. These duties were violated by Best Buy for continuing to offer company stock after it had become an imprudent investment.
Since 2010, Best Buy’s stock price has fallen from over $45 per share, to less than $13 per share. Best Buy has been the subject of securities class action and shareholder derivative lawsuits alleging fraud, breach of fiduciary duty and securities law violations by its officers and directors. The Company’s Employee Savings Plan has suffered millions of dollars in losses from investments in Best Buy stock.
If you are an existing or former Best Buy employee who owns stock through the Company’s Savings Plan, please contact our firm for an evaluation of your rights. You can contact Jake Zamansky by telephone at (212) 742-1414 or by email at firstname.lastname@example.org.