The Labor Department filed suit against TPL Inc., an Albuquerque, N.M., defense contractor, for alleged ERISA violations. According to the suit, filed Oct. 31, trustee and owner Harold M. Stoller formed a partnership with the $1.2 million profit-sharing plan to purchase real estate without a DOL exemption. The suit also alleges the plan guaranteed a real estate loan that allegedly exceeded its partnership interest. The suit asks for an order restoring any losses with interest, undoing any ERISA-prohibited transactions and removing Mr. Stoller as trustee.
The Labor Department filed suit against TPL Inc., an Albuquerque...
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