For Retirees and Former Employees of United

United Continental (UAL) is a major U.S. airline that is headquartered in Chicago, Illinois and that operates all around the globe. According to the company’s most recent figures, United Continental employs more than 85,000 workers worldwide.

United employees can participate in one of the company’s defined contribution 401(k) plans. Through this plan, workers can get access to certain advantages. These plans can make it easier for United Continental workers to save for their eventual retirement.

While the United defined contribution plan can offer great benefits to company employees, participants can also sometimes become targets of bad acting brokerage firms. Sadly, unscrupulous financial advisors and brokerage firms sometimes offer negligent advice to investors.

United Continental: 401k Plan Investment Losses

If you are a current or former employee of United Continental, and you have put a considerable amount of your financial assets into the company’s defined contribution 401(k) plan, it is imperative that your assets are properly protected.

Investors who put money away into their company’s defined contribution plan are counting on that money to be there as part of their overall retirement strategy. To protect the money, you need a financial advisor and plan manager that actually looks out for your best interests.

Yet, all too frequently, United Continental employees have found that their 401(k) plan has sustained major losses. In many cases, these financial losses were far greater than they ever thought was possible, and far greater than should have happened under market conditions.

While market risk is an unavoidable part of investing, there are also many cases in which employee retirement plans lose money because of broker misconduct and broker negligence.

Retirement Plans and Unsuitable Investments

Under Financial Industry Regulatory Authority (FINRA) regulations, financial advisors and brokerage firms have a legal duty to ensure that they are only selling securities to clients that are actually suitable for the investment objectives and unique financial circumstances of that client.

When most employees put assets in their company’s retirement plan, they are looking for safety, not for volatile and risky investment opportunities. Sadly, even when workers make this objective clear to their broker, financial advisors do not always follow through with the request.

When brokers put retirement investment money into unsuitable investments, and that investment loses money, that broker can potentially be held legally liable for those resulting damages.

If you are a current, former, or retired United Continental worker, and you believe that you lost money due to the fact that a financial professional pushed you into an unsuitable investment, or because a financial professional engaged in any type of investment fraud, you may be able to recover compensation for your losses.

We Represent Investors Nationwide

At the Sonn Law Group, our top-rated broker negligence attorneys have helped many fraud victims maximize their financial recovery. If you sustained major losses, we can help you review and assess your legal options. Please call us today for a free, no obligation case evaluation.

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.