April 19, 2017 (Shareholders Foundation) - An investigation on behalf of current and former participants in the Jackson National Life Insurance Company Defined Contribution Retirement Plan concerning potential Breaches of Fiduciary Duty was announced.

According to the investigation by a law firm under ERISA certain participants in the Jackson National Life Insurance Company Defined Contribution Retirement Plan may be eligible to file a ERISA complaint for putting stock options at risk if they can prove their employer violated its fiduciary duty to them. More specifically, the investigation seeks to determine whether those responsible for selecting investment options for the plan selected certain mutual funds that were high-cost and underperforming.

More specifically, the investigation by a law firm focuses on whether Jackson National Life Insurance Company breached its fiduciary duties and engaged in transactions expressly prohibited under ERISA by, among other things, maintaining expensive Jackson National-affiliated investment options in the Jackson National Life Insurance Company Defined Contribution Retirement Plan lineup when cheaper, comparable investment options were available to it.