• Class action lawsuit filed against Lowe's over 401K investment funds

    Updated:

    MOORESVILLE, N.C. - A quarter-million Lowe's employees may have lost out on money because of the way the company has been handling retirement accounts.

    Workers filed a class action lawsuit against the Mooresville-based company on Friday, claiming Lowe's switched 401K investment funds in 2015 and put one billion dollars into a fund that was untested and underperforming.

    The lawsuit claims that Lowe's should have done more research and picked a better investment fund.

    It claims the investment has already lost more than $100 million compared to the funds it replaced.

    The lawsuit wants Lowe's to find a way to get that money back and make sure workers' 401Ks don't suffer.

    Channel 9 has reached out to Lowe's for a comment, but we have yet to hear back.

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