mail@shareholdersfoundation.com
SunTrust Banks, Inc. (STI) has been accused of securities fraud by a lawsuit filed on behalf investors, who purchased INAP shares between July 22, 2008 and January 21, 2009, but SunTrust Banks, Inc. faces also an investigation on behalf current long term STI investors concerning possible shareholder claims.
If you are a current long-term investor in SunTrust Banks, Inc. (Public, NYSE:STI), you have certain options and you should contact the Shareholders Foundation, Inc. at:
Email: mail@shareholdersfoundation.com
or at: +1 (858) 779 - 1554
On Friday, March 06, 2009 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. According to the complaint the plaintiff alleges that SunTrust Banks, Inc (“SunTrust”)
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.
SunTrust Banks, Inc., located in Atlanta, GA, is a diversified financial services holding company whose businesses provide a range of financial services to consumer and corporate clients. SunTrust Banks operates in four business segments: retail and commercial, wholesale banking, mortgage, and wealth and investment management. SunTrust Banks reported in 2007 a Net Income of $1.63402billion and in 2008 a Net Income of $795.77million. Shares of SunTrust Banks (STI) traded at $21.08 per share, and were down from its 52weekHigh of $44.76 per share, $59.20 per share in September ’08, $68.33 per share in February ’08, and over $90 per share in 2007.
Those who are current long-term investors in SUNTRUST BANKS (NYSE: STI), have certain options and should contact the Shareholders Foundation, Inc. at:
Email: mail@shareholdersfoundation.com
or at: +1 (858) 779 - 1554
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-
Fax:+1-(858)-
mail@shareholdersfoundation.com
www.ShareholdersFoundation.com
____________________________________________________________
Photo:
http://www.prlog.org/
