On August 22, the U.S. Secretary of Labor filed suit against Philadelphia litigation firm Harvey Pennington, alleging the firm, its managing owner and another shareholder mishandled employees’ 401(k) contributions in violation of the Employee Retirement Income Security Act of 1974.
The suit may act as something of a cautionary tale for other attorneys, as Pennsylvania ethics lawyers told The Legal on Monday that, if found to be true, allegations that a lawyer, acting as a fiduciary, misused employees’ funds could possibly garner professional disciplinary action.
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