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Hartford Financial Services Group Inc. Has Been Hit with Two New Stock Drop Class Action Lawsuits
planadviser; registration may be required 
Dec. 10, 2008
Excerpt: The lawsuits allege a fiduciary breach by continuing to have company stock as a retirement plan investment option after it was no longer prudent because of the firm's subprime mortgage exposure. In the two federal court suits filed last week in Connecticut, employees Denise Jump and Joe DeSalvo claim having company stock in the plan was no longer appropriate because of the company's heavy exposure to mortgage-related assets -- including investments in the troubled Fannie Mae, Freddie Mac, Lehman Brothers Holdings, Washington Mutual, and American Insurance Group.
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