LITTLE ROCK, Ark., Jan. 21, 2005 (PRIMEZONE) -- Emerson Poynter LLP (www.emersonpoynter.com), a national law firm with offices in Houston, TX, Little Rock, AR, and Seattle, WA, announced today that it has commenced an investigation into Shurgard Storage Centers, Inc. ("Shurgard" or the "Company") (NYSE:SHU) for of the Employee Retirement Income Security Act of 1974 ("ERISA") in relation to Shurgard's handling of investments in the Company's Employee Retirement Saving Plan (the "Plan") between May 9, 2001 and the present (the "Class Period").
Emerson Poynter's investigation focuses on concerns that Shurgard and other fiduciaries for the Plan may have breached their ERISA-mandated fiduciary duties of loyalty and prudence by (1) failing to prudently and loyally manage the Plan's assets by imprudently investing a significant amount of the Plan's assets in Shurgard stock; (2) failing to monitor and provide fiduciary appointees with information that the appointing fiduciaries knew or should have known that the monitored fiduciaries must have in order to prudently manage the Plan's assets; (3) failing to provide complete and accurate information to participants and beneficiaries; and (4) breaching their duty to avoid conflicts of interest.
Emerson Poynter LLP has substantial experience representing plan participants in ERISA action and investors in shareholder lawsuits. The firm represents investors and retirement plan participants throughout the nation in such actions as Pfizer, Aon, Enron, Reliant Energy, Goodyear, Cardinal Healthcare, ADC Telecommunications, and Winn-Dixie. The firm has offices in Houston, Texas and Little Rock, Arkansas, but represents investors, retirement plan participants and consumers throughout the nation.
If you are a member of the Shurgard Employees Retirement Savings Plan and purchased or held Shurgard stock through the Plan, please contact us by calling toll-free at 800.663.9817 or via e-mail at epllp@emersonpoynter.com.