Amazon facing class action lawsuit over 401(k) mismanagement, dampening retail sentiment

From StockTwits: 2025-01-01 23:06:35

Amazon is facing a class action lawsuit for allegedly mismanaging $350 million in forfeited 401(k) funds by offsetting its own contributions instead of cutting administrative fees for over 20,000 participants, dampening retail sentiment. The lawsuit was filed by an Amazon employee in Seattle federal court, citing violations of federal law. Stock closed 0.86% lower on Tuesday. Tigress Financial analyst raised Amazon’s price target to $290 from $245, citing strong retail trends and AI integration growth. Worker strikes at seven U.S. facilities, led by the International Brotherhood of Teamsters, occurred recently. Amazon stock is up 44% year-to-date.



Read more at StockTwits: Amazon Stock In Focus As Proposed Class Action Lawsuit Brings Scrutiny: Retail’s Bearish