In March 2017, luxury automaker Audi, part of the Volkswagen Group, announced they were buying Silvercar, a distinctive and disruptive rental car company known for its fleet of Audi A4s in, what else, silver.
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The scene – an unnamed company. A new CFO was appointed and installed as the 401(k) plan administrator. He replaced the 12 investment options offered before with three mutual funds. It turns out his brother managed those funds. A clear conflict of interest with regard to the 401(k) plan – enough to trigger serious legal action.
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