SEATTLE, Sept. 2, 2009 (GLOBE NEWSWIRE) -- Keller Rohrback L.L.P. (www.erisafraud.com) today announced that the firm has filed an ERISA class action complaint on behalf a class of all persons who were participants in or beneficiaries of The Colonial BancGroup 401(k) Plan (the "Plan"), between April 18, 2007 and the present (the "Class Period") and whose accounts included investments in The Colonial BancGroup, Inc. (Pink Sheets:CBCGQ) common stock.
The complaint, which was filed in the United States District Court for the Middle District of Alabama, alleges that during the Class Period, Defendants breached their fiduciary duties to Plaintiff and the Class by: (1) failing to prudently and loyally manage the Plan's assets; (2) failing to monitor fiduciaries; (3) failing to provide complete and accurate communications to the Plan's participants and beneficiaries; and (4) knowingly participating in or enabling another fiduciary's breaches.
If you are a participant in The Colonial BancGroup, Inc. 401(k) Plan and held Colonial common stock in the Plan during the Class Period and you would like information regarding this matter, you may contact paralegal Jennifer Tuato'o or attorneys Sarah Kimberly, Erin Riley, Derek Loeser, or Lynn Sarko toll free at (800) 776-6044, or via e-mail at investor@kellerrohrback.com. You may also visit our website at www.erisafraud.com for additional information.
Keller Rohrback is one of America's leading law firms handling ERISA retirement plan litigation. We are committed to helping employees and retirees protect their retirement savings. Keller Rohrback serves or has served as lead and co-lead counsel in numerous ERISA class action cases, including cases against Enron, WorldCom, and HealthSouth. Keller Rohrback has successfully provided class action representation for over a decade. Its trial lawyers have obtained judgments and settlements on behalf of clients in excess of seven billion dollars.
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