Enron wasn't the first company to abuse workers' pension plans but the heartbreaking losses suffered by that company's employees shined a spotlight on the issue. Since then, employees with concerns about how their defined benefit plans and 401(k)s are managed have been going to court more readily than in pre-Enron days.

High-profile class action lawsuits have been filed under the Employee Retirement Income Security Act (ERISA) against companies suspected of various types of malfeasance, including the New York Life case that settled only last month. The company was accused of investing its employee pension plans in its own mutual funds to boost the perceived value of the funds and to collect plan related fees. Participants in the action claimed that the only one profiting from the investments was the company. A settlement of $14 million was reached.

Sprint Nextel is the most recent company to make the growing list of employers charged with pension plan mismanagement. The Wall Street Journal reported that last week its employees filed for class action status, accusing the firm of improperly steering plan investments into Sprint Nextel stock when company finances were deteriorating. The stock's value suffered a steep drop in the past year.

The big question is whether or not Sprint Nextel executives and board members knew that its share prices were in jeopardy during the period covered by the lawsuit. Attorneys for the would be class action plaintiffs say the answer is "yes," because the company had experienced substantial subscriber losses since it acquired Nextel three years ago. But they'll have to prove that if the case goes to trial.

Cases such as these underscore the importance of fulfilling fiduciary responsibility -- especially for CFOs who sit on their company's fiduciary committee.