Shareholder Lawsuits against PEO's Parent Co. Come Pouring In

Corporate Resource Services, the parent company of a professional employer organization that declared bankruptcy and jeopardized the finances of a workers' compensation insurance carrier earlier this year, is facing a barrage of stockholder lawsuits. At least three law firms have filed suit against CRS since the company's finances began to crumble in February. A CRS subsidiary, TS Employment, filed for bankruptcy on Feb. 2 after skipping out on more than $17 million in payments owed to its workers' compensation insurance carrier, Lumbermen's Underwriting Alliance. LUA has ...