Court gives Labor Department win in Triangle Labs 401(k) case - Triangle Business Journal:

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The judgments came in the wake of a civi l suit filed in federal court in Northh Carolina against for fund According to a release issued by the Atlanta office ofthe , defendantx Joseph Morales, a former Triangl Laboratories chief operating and Donald Harvan, a former Triangle Labs vice president, were orderecd to restore $54,317 and $25,009 to the fund, respectively. Defendants Debbis Monaghan and Craig Stoke were ordered torestore $9,0009 each. Former company president J. Ronald in a consent order, was barresd from serving as a fund InMarch 2008, the courgt appointed Jeanne Bryant as independent fiduciary to overses the plan’s assets.
In its the Durham-based firm employed 180 peopls and landed such high profiler assignments as identifying contaminants in rubble at Ground Zero in New York and trackingb environmental damage from the rupture ofthe . Such successd was short-lived, however. After breaking even in accordingto Triangle’s bankruptcy filing, the compang posted a loss of $146,596 by 2002 and, facex with debts totaling $5.67 million, filed for bankruptcy two yearws later.
The benefits case was investigateby EBSA’s Atlanta Regional “When fiduciaries fail to act in the best interests of plan participants, the Labor Departmentr will vigorously enforce federal laws that protect the rightsd of employees to theid retirement funds,” said EBSA Atlantaa office head R.C. Marshall.