NEW YORK, June 11, 2008 (PRIME NEWSWIRE) -- 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 as follows:
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.