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Liner Yankelevitz Investigates Claims Relating to Suntrust Banks, Inc. 401(k) Plan |
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Written by Prime News Wire
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Friday, 20 June 2008 |
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Los Angeles, California - Liner Yankelevitz Sunshine & Regenstreif LLP ("LYS&R") has commenced an investigation relating to Suntrust Banks, Inc. ("Suntrust" or the "Company") and potential violations of the Employee Retirement Income Security Act of 1974 ("ERISA"). The investigation centers on investments in Suntrust stock in the Suntrust Banks, Inc. 401(k) Plan (the "Plan").
LYS&R's investigation focuses on concerns that Suntrust and the Plan's fiduciaries may have breached their fiduciary duties of loyalty and prudence to the Plan's participants. A breach may have occurred if the fiduciaries failed to prudently manage the Plan's assets by, among other things, offering Suntrust stock as a Plan investment option, requiring participants to invest in the stock, and/or investing and holding Company contributions in the stock at a time when the stock was not a suitable and appropriate investment option. A breach also may have occurred if the fiduciaries withheld or concealed material information from the Plan's participants with respect to the Company's business, financial results, and operations, thereby encouraging participants and beneficiaries to continue to make and maintain substantial investments of Company stock in the Plan.
If you are a member of the Plan and would like to discuss this matter or provide information relevant to our investigation, you may contact any member of our team toll free at (866) 620-6722, or via e-mail at
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