401k Drained During Acquisition. Can I Do Anything?
Location: Texas
Edit: I did not phrase my question well or provide enough information. Someone said what I’m really asking, do they owe me anything for the three months of lost gains? I looked more closely, and it is split into two accounts called “[Former Employer] profit sharing plan” with $7108 that the company shows being present on 3/31, then a bunch of transactions on 4/30 that just say fee, then a bunch of transactions on 5/1 that say asset transfer out. The rest of the money is in “[Former employer] 457(b)” with $4552 shown and lost on the same timeline. Shows 82 transactions per account since the end of March
As far as naming and shaming the firm, is that not defamation if I’m wrong about this being illegal behavior? I get the ethos of protecting others, but I’ve gotta protect myself too, and I am not confident enough to speak to this issue like I would be on normie crime. Thank you to everyone for your time and responses
I have a 401k from a previous employer, and the firm managing that was acquired by another firm earlier this year, I believe in April. I checked my account today and saw it is empty. It shows dozens of transactions on May 1st removing all of the funds, and customer service says they’re trying to figure out where it all went but that they’ll put it back.
I don’t really want to escalate the issue, but that’s over three months it should’ve been growing and was instead empty. Not very much money relatively speaking, ~$11.5k, not sure if that matters. I really just want to cash it out now because obviously I do not trust them with my money anymore, but it seems kind of unfair to take a hit like that and then still pay the penalty to get the funds back so I can start an IRA or whatever
Thank you for your help, and I guess my question is, do I have any standing to do or bargain for literally anything or do I just cope?
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