Hartford Financial Services Group (NYSE:HIG) Former And Current Employees Investigation

PRLog (Press Release) - Jan 30, 2009 -
According to a press release a law firm is currently on behalf of current and former employees of Hartford Financial Services Group, Inc. (NYSE:HIG) investigating the Hartford Financial Services Group, Inc. (NYSE:HIG) for potential violations of the Employee Retirement Income Security Act of 1974 (”ERISA”).

If you are a current or former employee of the Hartford Financial Services Group (NYSE:HIG) and a participant in The Hartford Investment and Savings Plan, where you held Hartford Financial Services Group, Inc. (NYSE:HIG) stock, or have information relating to this investigation of the law firm, you should contact the Shareholders Foundation, Inc. immediately!

Email: Mail@ShareholdersFoundation.com

or Call us

Phone: +1-(858)-779-1554

According to the press release the investigation focuses on investments in Hartford Financial Services Group, Inc. (NYSE:HIG) stock in the Hartford Investment and Savings Plan. The investigation involves concerns that Hartford Financial Services Group, Inc. and other administrators of the Hartford Investment and Savings Plan may have breached their ERISA-mandated fiduciary duties of loyalty and prudence to participants and beneficiaries of the plan. A breach may have occurred if the fiduciaries failed to manage the assets of the Plan prudently and loyally by investing the assets in Company stock when it was no longer a prudent investment for participants’ retirement savings, so the investigation. Violations may have occurred in at least two ways, either by continuing to offer Hartford Financial Services Group, Inc. (NYSE:HIG) common stock as a Plan investment when it was imprudent to do so, or by maintaining the plan’s investment in Hartford Financial Services Group, Inc. (NYSE:HIG) stock in the plan when it was imprudent to do so, and thus the investigation focuses on whether certain fiduciaries of the Hartford Investment and Savings Plan. failed to disclose material adverse facts concerning Hartford Financial Services Group, Inc.’s financial well-being, business operations and prospects that led to a $2.63 billion third-quarter loss. Specifically so the press release the investigation involves concerns whether the Hartford Financial Services Group, Inc. (NYSE:HIG) stock failed to disclose the extent of its exposure to the credit markets, and specifically with respect to mortgage-related assets; its true exposure to investments in it held in Fannie Mae, Freddie Mac, Lehman Brothers, and AIG; and the deterioration in its capital position.

If you are a current or former employee of the Hartford Financial Services Group (NYSE:HIG) and a participant in The Hartford Investment and Savings Plan, where you held Hartford Financial Services Group, Inc. (NYSE:HIG) stock, or have information relating to this investigation of the law firm, you should contact the Shareholders Foundation, Inc. immediately!

Email: Mail@ShareholdersFoundation.com

or Call us

Phone: +1-(858)-779-1554

or send us your information by mail /facsimile:

Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-779-1554
Fax:+1-(858)-605-5739
Mail@ShareholdersFoundation.com
www.ShareholdersFoundation.com
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