Levi & Korsinsky LLP is investigating possible illegal conduct related to the Starwood Hotels & Resorts Worldwide, Inc. Savings & Retirement Plan (the “Plan”). The investigation concerns possible violations of the Employee Retirement Income Security Act of 1974 (“ERISA”).
In particular, the investigation concerns whether the fiduciaries of the Plan violated ERISA by, among other things, charging excessive fees, as well as failing to adequately disclose its practice of “revenue sharing” with, i.e., providing for the receipt of kickbacks to Starwood from, certain funds that were included as Plan investment options. Starwood Plan participants were consistently assessed fees that were more than double the median cost assessed to investors in comparable plans, and a large percentage of these fees were attributed to “record-keeping” services provided by the Plan’s administrators. These excessive fees, in actuality, operated as undue compensation that bore no reasonable relation to the services provided by the administrators, who caused Plan assets to be invested in funds that paid these fees.
If you have or had an individual account with the Starwood Hotels & Resorts Worldwide, Inc. Savings & Retirement Plan as an employee or former employee, you may have legal claims under ERISA.
The submission of this form does not create an attorney-client relationship automatically. Any information you submit will be maintained as confidential. If Levi & Korsinsky LLP, in its sole discretion, believes that you might have a claim, Levi & Korsinsky LLP will contact you to discuss the matter and whether to establish an attorney client relationship.
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