BALA CYNWYD, Pa., March 8, 2012 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating Chemed Corporation ("Chemed" or the "Company") (NYSE: CHE) investment of Plan participants and beneficiaries assets in company stock. The investigation concerns whether administrators breached their fiduciary duties and violated the Employee Retirement Income Security Act of 1974 ("ERISA") by investing and/or continuing to invest assets in company stock when it was not a prudent investment for participants' retirement savings.
The investigation concerns improper behavior that harmed current and former employees that invested in the 401(k) plan. Specifically, a class action lawsuit has been filed that alleges that the Company issued materially false and misleading statements concerning the Company's business and prospects. It is alleged that the defendants failed to disclose that Chemed engaged in a scheme to fraudulently bill Medicare for hospice services and failed to maintain adequate controls in its hospice enrollments and Medicare billings. It has been reported that a whistleblower complaint has also been filed alleging similar misconduct.
If you held Chemed stock in the Chemed/Roto-Rooter Savings & Retirement Plan and wish to discuss the legal ramifications of the administrator's investment in Company stock, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org, visiting http://brodsky-smith.com/393-che-chemed-corporation.html, or by calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC