According to a press release there is currently an ongoing investigation on behalf of former and current employees of Savient Pharmaceuticals, Inc. (NASDAQ: SNVT) concerning potential Employee Retirement Income Security Act (ERISA) Breach of Fiduciary Duty.

According to the press release Savient Pharmaceuticals, Inc has been accused of securities fraud and under ERISA employees (former and current) of Savient Pharmaceuticals, Inc. (NASDAQ: SNVT) are eligible to file a ERISA complaint for putting stock options at risk if they can prove their employer violated its fiduciary duty to them. The Fiduciary duty refers to a companys responsibility to the people who invest in it and if an employer puts the companys interest ahead of the investors, it has broken its fiduciary duty., so the investigation.
ERISA, so the press release, is a federal law that sets minimum standards for pension and health plans set up by private businesses and ERISA was designed to protect people who participate in employee benefit plans, including employees with stock options in a company.