NEW YORK, June 11, 2008 (LAWFUEL) — Attorney Advertising.
Stull, Stull & Brody today announced that it has commenced an
investigation relating to the 401(k) defined contribution retirement
plans of Wachovia Corporation. (“Wachovia” or the “Company”) (NYSE:WB).
Among other things, Stull, Stull & Brody is investigating whether
fiduciaries of the Wachovia 401(k) plans may have violated the Employee
Retirement Income Security Act of 1974 (“ERISA”) by failing to disclose
the Company’s true operating condition to participants and
beneficiaries of the plans (including disclosures relating to
Wachovia’s exposure to high-risk mortgages and collateralized debt
obligations and operations and the reliability of the Company’s
reported financial information), by offering Wachovia stock as an
investment option under the plans when it was not prudent to do so,
and/or by allowing an imprudent overconcentration of Company stock in
the Company’s 401(k) plans.
If you held Wachovia stock in an individual account under any of the
Company’s 401(k) plans at any time since January 1, 2006 you may, if
you wish, consult with a representative of Stull, Stull & Brody at no
cost or obligation. The contact information for Stull, Stull & Brody is
Stull, Stull & Brody has extensive experience in protecting the rights
of 401(k) plan participants and beneficiaries and shareholders of
public companies. Stull, Stull & Brody is presently representing
classes of 401(k) plan participants in many class action cases
throughout the country. Stull, Stull & Brody maintains offices in New
York and Los Angeles.
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