SEATTLE, Aug. 1, 2005 (PRIMEZONE) -- Keller Rohrback L.L.P. today announced that the Honorable Avern Cohn of the United States District Court for the Eastern District of Michigan recently appointed Keller Rohrback L.L.P. as Lead Counsel for the Class in this ERISA class action brought on behalf of the participants and beneficiaries in the Visteon Investment Plan and the Visteon 401(k) Savings Plan (collectively the "Plans"), who held and/or purchased Visteon Corporation ("Visteon") (NYSE:VC) stock in their plan accounts between September 18, 2001 and May 10, 2005 (the "Class Period").
Judge Cohn also appointed the law firms of Schiffrin & Barroway, L.L.P. and Sprenger & Lang, P.L.L.C. to serve on an executive committee and appointed Stephen F. Wasinger P.L.C. as local counsel for the Class.
The Complaint alleges that during the Class Period, the Defendants breached their fiduciary duties to Plaintiffs and the Class members by: failing to prudently and loyally manage the Plans' assets; failing to provide participants with complete and accurate information regarding Visteon stock sufficient to advise participants of the true risks of investing their retirement savings; failing to properly monitor the performance of their fiduciary appointees, and remove and replace those whose performance was inadequate; and breaching the duty to avoid conflicts of interest.
If you are a current or former employee or retiree of Visteon who participated in one of the Visteon Retirement Plans and would like further information on this case, please visit our website, www.erisafraud.com, which is designed to keep class members updated on the case. You may also contact any member of our team (paralegal Jennifer Tuato'o or attorneys Lynn Sarko, Beth Leland, or Erin Riley) toll free at (800) 776-6044 or via e-mail at investor@kellerrohrback.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.