According to a press release a law firm is currently on behalf of former and current employees of ING Groep N.V. (NYSE: ING) investigating potential violations of the Employee Retirement Income Security Act of 1974.

According to the press release the investigation involves concerns that ING Groep N.V. (NYSE: ING) and other administrators of the ING Americas Savings Plan and ESOP or the ING Bank & Trust 401k Plan for Iliac Agents may have breached their ERISA-mandated fiduciary duties of loyalty and prudence to participants and beneficiaries of the plans. A breach may have occurred if the fiduciaries failed to manage the assets of the ING Americas Savings Plan and ESOP or the ING Bank & Trust 401k Plan for Iliac Agents prudently and loyally by investing the assets in ING Groep N.V. (NYSE: ING) stock when it was no longer a prudent investment for participants retirement savings, so the investigation.