Allegation
Institution Type
When employees leave East West Bank before becoming fully vested in certain employer contributions, the unvested amounts may be forfeited. The Plan’s publicly filed retirement plan documents show that forfeited amounts were used to reduce employer contributions. We are investigating whether the Plan’s use of forfeited plan assets complied with ERISA.
If you or your spouse are current or former employees of East West Bank and participate in the East West Bank Employees 401(k) Savings Plan we would like to hear from you.
There is no cost or obligation to submit information. The information you provide will help us evaluate whether you may have a claim.
Our law firm is investigating the administration of the East West Bank Employees 401(k) Savings Plan, including the use of forfeited employer contributions to reduce future employer contributions. We are investigating whether the plan’s administration and use of forfeited assets violated its fiduciary duties under the Employee Retirement Income Security Act (“ERISA”).
East West Bancorp, Inc. is a financial services company headquartered in Pasadena, California. It is the parent company of East West Bank, which provides banking and financial services to businesses, individuals, and institutions. East West Bank operates branches and offices across the United States and has a significant focus on serving customers with U.S.-Asia financial needs.
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