Abbott Laboratories Losses

Abbott-Laboratories-Losses
Abbott Laboratories is a large American healthcare company that is headquartered in Lake County, Illinois. As of the end of 2017, this company reports that it has nearly 99,000 total employees, mostly working in the United States.

As with many other prominent corporations, employees of Abbott Laboratories have the chance to participate in one of their company’s qualified savings and retirement plans. Specifically, Abbott Laboratories offers workers an opportunity to invest in the firm’s stock retirement plan (a 401k plan).

While this plan often offers valuable benefits for workers, investors also need to be careful. Unfortunately, participants in the Abbott Laboratories retirement and employee savings plan sometimes become targets for unscrupulous broker-dealers.

 

Abbott Laboratories: 401k Plan Investment Losses

Employees of Abbott Laboratories want to be able to trust their company’s stock retirement plan (401k). When Abbott Laboratories workers put their hard earned money into this plan, they do it looking for safety, anticipating that they will be able to rely on this income when it comes time to retire.

When financial advisors and broker-dealers manage assets within a 401(k) plan, it is especially important that they pay close attention to the unique needs of the employee investors. Brokers have a professional duty to protect the interests of their customers. A worker’s retirement plan holdings should always be properly structured, so that they are not taking on an unwise or unwanted level of risk.

 

Employee Retirement Plans: Suitability Requirements

Under FINRA Rule 2111, registered financial advisors and their member firms are held to a basic suitability requirement. When selling securities and other financial products to investors, these licensed professionals must ensure that the prospective investment in question is actually appropriate for the unique financial situation and investment objectives of their customer.

Notably, when an investor is putting money into a retirement plan, highly speculative and risky investments should be avoided. Investment advisors and broker-dealers must consider an employee investor’s age, income, likely future income, other investment holdings, education, long-term investment goals, and risk tolerance. Investors need to have their retirement plan assets protected from high levels of risk.

Yet, irresponsible and bad-acting brokerage firms have been known to push current and former Abbott Laboratories workers into unsuitable financial products and risky securities. If your 401(k) retirement plan lost a considerable amount of value, and you believe that this happened because you were invested in unsuitable securities or financial products, you might have legal right to hold your broker-dealer financially responsible for your investment losses. Abbott Laboratories employees who have sustained such losses should consult with a professional regarding their available options for financial recovery.

 

We Protect Investor Rights

At the Sonn Law Group, our committed securities fraud attorneys are standing by, ready to review your case and help you understand your available options. To learn more about your ability to recover financial compensation for your 401(k) plan losses, please do not delay in contacting our law firm today for a free initial consultation.

Disclaimer: This article contains opinions and NOT statements of fact in any way whatsoever. The information here is general information that should not be taken as legal advice. NO attorney-client relationship is established between you and our attorneys by reading this article. This article is attorney advertising and should not be used as a substitute for legal advice from a qualified securities lawyer.

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