SEATTLE, April 12, 2006 (PRIMEZONE) -- Keller Rohrback L.L.P. (www.erisafraud.com) today announced that it has commenced an investigation against Lear Corp. ("Lear" or the "Company") (NYSE:LEA) for potential violations of the Employee Retirement Income Security Act of 1974 ("ERISA"). The investigation focuses on investments in Lear stock by the Lear Corp. Salaried Retirement Savings Plan, the Lear Corp. Hourly Retirement Savings Plan, and the Lear Corp. Hourly 401(k) Savings Plan (the "Plans").
Keller Rohrback's investigation focuses on concerns that Lear and other administrators of the Plans may have breached their ERISA-mandated fiduciary duties of loyalty and prudence to participants and beneficiaries of the Plans. A breach may have occurred if the fiduciaries failed to manage the assets of the Plans prudently and loyally by investing a significant amount of the assets in Company stock when it was no longer a prudent investment for participants' retirement savings. A breach also may have occurred if the fiduciaries withheld or concealed material information from the Plans' participants with respect to the Company's business, financial results and operations, thereby encouraging participants and beneficiaries to continue to make and maintain substantial investments of Company stock in the Plans.
If you are a member of the Lear Corporation Salaried Retirement Savings Plan, the Lear Corporation Hourly Retirement Savings Plan, or the Lear Corporation Hourly 401(k) Savings Plan, and purchased or held Lear stock through one of those Plans, you may contact any member of our team, paralegal Jennifer Tuato'o, or attorneys Erin Riley, Derek Loeser or Lynn Sarko, toll free at 800/776-6044, or via e-mail at investor@kellerrohrback.com.
Keller Rohrback is one of America's leading law firms handling ERISA retirement plan litigation. Our attorneys helped pioneer this field in the Lucent and IKON ERISA breach of fiduciary duty cases -- the first large-scale ERISA 401(k) cases filed. Keller Rohrback serves as lead and co-lead counsel in numerous ERISA breach of fiduciary duty cases, including the Enron, WorldCom, Inc. and Marsh & McLennan Companies ERISA cases. Recently, Keller Rohrback was appointed lead counsel in the Delphi ERISA case. Keller Rohrback has successfully provided class action representation for over a decade. Its trial lawyers have obtained judgments and settlements on behalf of clients in excess of seven billion dollars.