TTM Technologies, a leading manufacturer of printed circuit boards (PCBs) and radio frequency (RF) components, has faced several lawsuits in recent years. These lawsuits cover various issues, including environmental violations, wage and hour violations, and benefit plan administrator violations.
Environmental Violations:
In 2004, TTM Technologies was fined $9.7 million for environmental violations at its Anaheim, California, facility. The company admitted to illegally storing and disposing of hazardous materials. Additionally, in 2019, TTM Technologies was fined $7,200 by the South Coast Air Quality Management District (SCAQMD) for violating air quality regulations.
Wage and Hour Violations:
In 2007, TTM Technologies was found to have violated wage and hour laws and was fined $6,874. The company was accused of not paying employees for overtime work.
Benefit Plan Administrator Violations:
In 2021 and 2023, TTM Technologies was fined a total of $60,002 by the Employee Benefits Security Administration (EBSA) for violations of the Employee Retirement Income Security Act (ERISA). The company was accused of failing to properly administer its employee benefits plan.
These lawsuits raise concerns about TTM Technologies’ commitment to compliance with environmental, labor, and employee benefit laws. It’s important for investors and consumers to be aware of these legal issues when making decisions about the company.
FAQs:
What are the environmental concerns surrounding TTM Technologies?
TTM Technologies has been fined for violating environmental regulations, including the illegal storage and disposal of hazardous materials and air quality violations.
Has TTM Technologies violated wage and hour laws?
Yes, TTM Technologies was fined in 2007 for failing to pay employees overtime wages.
What are the ERISA violations that TTM Technologies has been accused of?
TTM Technologies has been accused of failing to properly administer its employee benefits plan, including failing to provide accurate information to participants and failing to follow claims procedures.
What are the potential consequences of these lawsuits for TTM Technologies?
TTM Technologies could face additional fines, penalties, and legal fees as a result of these lawsuits. The company could also suffer damage to its reputation and lose customers.
What is TTM Technologies doing to address these legal issues?
TTM Technologies has not publicly commented on the specific legal issues raised in the lawsuits. However, the company has stated that it is committed to complying with all applicable laws and regulations.
What should investors and consumers do in light of these lawsuits?
Investors and consumers should be aware of these legal issues and consider them when making decisions about TTM Technologies. They should also conduct their own research and due diligence before investing in or purchasing products or services from the company.
Conclusion:
TTM Technologies has been involved in several lawsuits in recent years, raising concerns about its compliance with environmental, labor, and employee benefit laws. Investors and consumers should be aware of these issues and consider them when making decisions about the company.
References:
- Violation Tracker: https://goodjobsfirst.org/introducing-violation-tracker/
- TTM Technologies: https://www.ttm.com/en
- Press Releases – TTM Technologies, Inc.: https://investors.ttm.com/news-events/press-releases
- Annual Reports & Proxy Statements – TTM Technologies, Inc.: https://investors.ttm.com/company-information/annual-reports-proxy-statements
