LAWFUEL – The Legal Newswire – NEW YORK, Jan. 11, 2008 – Stull, Stull & Brody today announced that it has commenced an investigation relating to the 401(k) defined contribution retirement plans of SunTrust Banks, Inc.
(“SunTrust” or the “Company”) (NYSE:STI). Among other things, Stull,
Stull & Brody is investigating whether fiduciaries of the SunTrust
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 SunTrust’s subprime operations and
the reliability of the Company’s reported financial information), by
offering SunTrust 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 SunTrust 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
as follows:
Email: ssbny@aol.com
Fax: (212) 490-2022
Toll Free Number: 1-800-337-4983
(Edwin J. Mills, Esq. or Tzivia Brody, Esq.)
Mail:
6 East 45th Street
New York, NY 10017
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.
