Stull, Stull & Brody Announces Investigation on Behalf of Participants & Beneficiaries of the Wilmington Trust Thrift Savings...
January 02 2011 - 9:00AM
Business Wire
Attorney Advertising. Stull, Stull & Brody announced today
that it has commenced an investigation relating to the 401(k)
defined contribution retirement plan of Wilmington Trust
Corporation (NYSE:WL) (“Wilmington Trust” or the “Company”). Among
other things, Stull, Stull & Brody is investigating whether
fiduciaries of the Wilmington Trust Thrift Savings Plan, a 401(k)
plan, 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 the Company’s eroding loan
quality, the heavy concentration of the Company’s loans in areas
experiencing loan troubles, and growing cash shortages), by
offering Company stock as an investment option under the plan when
it was not prudent to do so, and/or by allowing an imprudent
overconcentration of Company stock in the Company’s 401(k)
plan.
If you held Wilmington Trust stock in an individual account in
the Wilmington Trust Thrift Savings Plan or employee stock purchase
plan 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: wl@ssbny.com
Fax: (212) 490-2022 Toll Free Number: 1-800-337-4983 (Michael J.
Klein, Esq.) Mail: Stull, Stull & Brody 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.
Attorney Advertising. Prior Results Do Not Guarantee A Similar
Outcome.
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