ROME, Ga. (Legal Newsline) — The U.S. Department of Labor
announced it has filed a lawsuit against Kesco Southeast Inc., a company
specializing in rock drilling and blasting, to recover retirement plan assets
of 19 former employees.
Defendants in the case also include former President
Dean Conn and former secretary Andrea Rozelle.
According to allegations, Kesco ceased operations in May
2011. Rozelle, authorized the company’s 401(k) plan to be distributed in two
lump sum checks. One check allegedly went to only one plan participant while
the other check was made payable to the company itself. The Department of Labor
charges that the remaining 19 participants in the plan did not receive their
The department seeks a court order that would enjoin the
defendants from engaging in further alleged violations of the Employee Retirement
Income Security Act and serving as a fiduciary or employee of any employee
benefit plan. The department also seeks an order that would force the
defendants to disgorge all profits received from their alleged fiduciary breaches
and restore money to the victims.