CINCINNATI, March 11, 2008 (PRIME NEWSWIRE) -- The class action Cincinnati law firm of Statman, Harris & Eyrich, LLC announces it is investigating First American Corp. (NYSE:FAF) ("First American") for potential violations of the Employee Retirement Income Security Act of 1974 ("ERISA") relating to the First American Corp. 401(K) Savings Plan.
This investigation focuses on whether First American and other Plan administrators breached their fiduciary duties to participants and beneficiaries of the Plan by, among other things, (a) offering First American stock as a Plan investment option for participant contributions, (b) permitting the Plan to be invested in First American stock when it was imprudent to do so, and (c) encouraging investment in First American stock by withholding or concealing material business or financial results information from the Plan's participants and beneficiaries.
Current and former employees of First American Corp. who hold First American stock in the First American Corp. 401(K) Savings Plan may have a claim to recover losses in their retirement investment. If you are interested in protecting the value of your investment, you are encouraged to contact Elizabeth L. Hutton, Esq. at (513) 621-2666 or (888) 876-7881, or via e-mail at ehutton@statmanharris.com without obligation or cost to you.
Statman, Harris & Eyrich, LLC has offices in Chicago, Illinois, Cincinnati, Ohio, and Dayton, Ohio. www.statmanharris.com