Plaintiffs v The Colonial Bancgroup 401(k) Plan

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Keller Rohrback L.L.P. Announces ERISA Class Action Filed On Behalf of The Colonial Bancgroup 401(k) Plan -- (PinkSheets:CBCGQ)

Case ID: 5568

Category: Miscellaneous

Last Update: 09/10/2009

Country:

Keller Rohrback L.L.P. 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, between April 18, 2007 and the present and whose accounts included investments in The Colonial BancGroup, Inc. common stock.

The complaint, which was filed in the United States District Court for the Middle District of Alabama, alleges that 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.

Fund participants may join this action by contacting:

Keller Rohrback L.L.P.
Jennifer Tuato'o, Paralegal
(800) 776-6044
investor@kellerrohrback.com

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