CINCINNATI, Feb. 13, 2008 (PRIME NEWSWIRE) -- The class action Cincinnati law firm of Statman, Harris & Eyrich, LLC announces it is investigating Bank of America (NYSE:BAC) for potential violations of the Employee Retirement Income Security Act of 1974 ("ERISA") relating to the Bank of America 401(k) Plan (the "Plan").
This investigation focuses on whether Plan fiduciaries breached their fiduciary duties by failing to prudently manage the Plan's assets by, among others: (a) offering Bank of America stock as a Plan investment option, (b) permitting the Plan to invest in Bank of America stock when it was imprudent to do so, and (c) encouraging that the Plan invest in Bank of America stock while withholding or concealing material business or financial information from the Plan's participants and beneficiaries.
Current and former employees of Bank of America who currently hold Bank of America stock in the Bank of America 401(k) Plan may have a claim to recover losses in their retirement investment. If you are interested in protecting the value of your investment, please contact Jeffrey P. Harris, Esq. at (513) 621-2666 or (888) 876-7881, or via e-mail at jharris@statmanharris.com for further information without any obligation or cost to you.
Statman, Harris & Eyrich, LLC has offices in Chicago, Illinois, Cincinnati, Ohio, and Dayton, Ohio. www.statmanharris.com