CASES
Fifth 3rd
Class Period: After Sep 21, 2001
Summary of Case:
On January 15, 2005, Scott + Scott, filed a complaint. The lawsuit alleges that plan fiduciaries breached duties and responsibilities by, among other things, by, among other things: (1) failing to properly manage the Plan's assets by investing the Plan's assets in Fifth Third stock at a time when they knew or should have known that it was not prudent to do so; (2) making material misrepresentations about Fifth Third stock and failing to provide complete and accurate information to participants and beneficiaries; (3) failing to monitor those persons or entities who were charged with managing the Plan and its assets; and (4) failing to avoid conflicts of interest with respect to the Plan. The Fifth Third 401(k) lawsuit has been pending in federal court in Ohio since early this year.
For further information about the case, please review our Press Release below.
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