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

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

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.

Content Continues Below

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.

Read more top trending stories on wsoctv.com: