More troubles for local technology company Ruralogic…
The company has now been named in yet another lawsuit, and this time it’s in federal court.
The U.S. Department of Labor filed a complaint alleging improper use of pension funds.
According to the Bryan Times, Ruralogic Inc., along with its sister company Cirric Inc., are fiduciaries to the retirement plan. Both companies, along with their respective owners, Joseph Burmester and C. David Snyder, are named as defendants in the federal suit.
An investigation determined that the defendants failed to timely remit participant contributions and participant loan repayments to the plan.
The complaint seeks to restore $123,338.85 to the Attevo retirement plan. It also seeks to permanently bar Snyder and Burmester from serving as a fiduciary or service provider to any employee benefit plan.
According to the complaint, Burmester and Ruralogic, which is headquartered in Bryan and has branch locations in Archbold and Napoleon, failed to remit $54,899.71 in participant contributions that were withheld from the paychecks of Ruralogic Inc.‘s employees from July 31, 2010, to June 29, 2012. Snyder and Cirric are accused of failing to remit $68,439.14.
This suit is just the latest in a series of lawsuits that have been filed against the one promising local employer, based in Bryan.