Press release from Business Wire
Hagens Berman LLP Announces Investigation of SunTrust Banks
Thursday, June 16, 2011
SEATTLE (Business Wire) -- Hagens Berman today announced that it is investigating potential claims against SunTrust Banks (NYSE: STI) after the company allegedly made substantive changes to its employee pension plan, actions which may violate federal law.
A recent US Supreme Court ruling calls into question the company's actions in converting its pension plan to a cash-balance plan, which falls under the Employee Retirement Income Security Act (“ERISA”), a law that regulates private sector pension plans in the United States.
Hagens Berman is investigating whether SunTrust Banks fully disclosed the possible disadvantages of the new plan to its employees.
Hagens Berman is interested in talking to employees or former employees of SunTrust Banks who feel that the company did not fully disclose the risks associated with the transition to a cash balance plan.
Employees can contact the Hagens Berman legal team via email at SunTrust@hbsslaw.com. Consumers can also contact the firm by calling (206) 623-7292. Additional information is available at www.hbsslaw.com/SunTrust.
About Hagens Berman
Seattle-based Hagens Berman Sobol Shapiro LLP is one of the top class-action law firms in the nation, with offices in Boston, Chicago, Colorado Springs, Los Angeles, Minneapolis, New York, Phoenix, San Francisco and Washington, D.C. Founded in 1993, we represent plaintiffs in class actions and multi-state, large-scale litigation that seek to protect the rights of investors, consumers, workers and whistleblowers. More information about the firm is available at www.hbsslaw.com.
Firmani + Associates Inc.
Mark Firmani, 206-443-9357