(Bloomberg) — RadioShack Corp., which has seen its shares collapse as it fights a losing battle with big-box electronics stores and online rivals, is being probed by the U.S. Labor Department over its handling of employees' retirement money.
The department wrote the company last month to say it would investigate its 401(k) plan from 2011 on to ensure it was following U.S. rules for retirement plans, RadioShack said in a filing with the Securities and Exchange Commission yesterday. At least three lawsuits have been filed against the company since then, it said in the filing.
RadioShack, as high as $78 in 1999, has dived from $18.56 in 2011 to less than 40 cents a share. It has said it might not survive as a "going concern."
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