Solis v. Smart Technology, Inc. et al
| Hilda L. Solis |
| Smart Technology, Inc., Shawn Hedgspeth and The Smart Technology 401(k) Plan |
| 1:2012cv00284 |
| March 14, 2012 |
| US District Court for the Eastern District of Virginia |
| Alexandria Office |
| Out of State |
| Ivan D. Davis |
| T. S. Ellis |
| Employee Retirement Income Security Act of 1974 |
| 29 U.S.C. ยง 1001 |
| None |
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Filing
27
ORDERED that the Court adopts as its own the findings of fact and recommendation of the United States Magistrate Judge, as set forth in the August 27, 2012 Report and Recommendation. Accordingly, it is hereby ORDERED that judgment is ENTERED by defa ult in favor of plaintiff and against defendants Smart Technology, Inc. and Shawn Hedgspeth, jointly and severally, in the following respects: 1. Defendants Smart Technology, Inc. and Shawn Hedgspeth, jointly and severally, shall restore $21,438 .90 in Plan assets and $7,273.23 in pre-judgment interest, for a total of $28,712.13, to the subject ERISA Plan. 2. Once the $28,712.13 has been restored to the Plan, $26,303.84 of the Plan assets shall promptly be paid to Plan p articipant Robert Suslowitz, and $1,167.32 of the Plan assets shall promptly be paid to Plan participant Salvador Campos. 3. Once the above amounts have been redistributed to the above Plan participants, defendants Smart Technology, Inc. and Sha wn Hedgspeth shall promptly take all necessary and further action required to terminate the Plan and to distribute any remaining Plan assets in accordance with the Plan documents. 4. Following termination of the Plan and distribution of the remaining Plan assets, defendants Smart Technology, Inc. and Shawn Hedgspeth are thereafter permanently ENJOINED from serving as trustees, fiduciaries, advisors or administrators to any employee benefit plan covered by the Employee Retirement Income Security Act of 1974 (ERISA), 29 U.S.C. §1001 et seq. 5. The Court retains jurisdiction of this action solely for purposes of enforcing compliance with the terms of this Final Order and Judgment. The Clerk is DIRECTED to enter judgment in accordance. Signed by District Judge T. S. Ellis, III on 10/11/2012. (jlan)
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