SunTrust Banks, Inc Investor Class Action Lawsuit

PRLog (Press Release) - Mar 06, 2009 -
On Friday an investor in SunTrust Banks, Inc (NYSE: STI) shares has filed a proposed securities class action lawsuit in the United States District Court for the Northern District of Georgia on behalf of purchasers of SunTrust Banks, Inc. publicly traded securities (NYSE: STI) during the period between July 22, 2008 and January 21, 2009 against SunTrust Banks, In and certain of its officers and directors with alleged violations of  Federal Securities Laws.

If you purchased SunTrust Banks, Inc. publicly traded securities (NYSE: STI) during the period between July 22, 2008 and January 21, 2009, you have certain options and there are strict and short deadlines running. (May 05, 2009). You should contact the Shareholders Foundation, Inc. immediately!

Email: mail@shareholdersfoundation.com

Or call us at: +1 (858) 779 - 1554

According to the complaint the plaintiff alleges that SunTrust Banks, Inc (“SunTrust”) and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between July 22, 2008 and January 21, 2009 false and misleading statements about SunTrust’s financial results and conditions.
The plaintiff alleges among other things, that SunTrust was not as well capitalized as represented, and, notwithstanding the $3.5 billion the Company received on November 17, 2008 from the Troubled Asset Relief Program, SunTrust announced that it would have to raise an additional $1.4 billion in TARP funds just three weeks later. As SunTrust’s true condition slowly came to light in a series of write-downs, reserve increases and capital-raising, SunTrust’s stock price dropped from a high of over $59 per share between July22, 2008 and January 21, 2009  to less than $14 per share, so the lawsuit.

If you purchased SunTrust Banks, Inc. publicly traded securities (NYSE: STI) during the period between July 22, 2008 and January 21, 2009, you have certain options and there are strict and short deadlines running. (May 05, 2009). You should contact the Shareholders Foundation, Inc. immediately!


Email: mail@shareholdersfoundation.com

Or call us at: +1 (858) 779 - 1554

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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