SEATTLE, July 16, 2008 (PRIME NEWSWIRE) -- Attorney Advertising. Keller Rohrback L.L.P. (www.erisafraud.com) announces that it has commenced an investigation against IndyMac Bancorp, Inc. ("IndyMac" or the "Company") for potential violations of the Employee Retirement Income Security Act of 1974 ("ERISA"), as amended. The investigation focuses on investments in Company stock in the IndyMac Bank, F.S.B. 401(k) Plan (the "Plan").
Keller Rohrback's investigation involves concerns that IndyMac and other administrators of the 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. Specifically, IndyMac continued to make and maintain investment in IndyMac stock despite the Company's apparent mismanagement of the risk of assets held by the Company and its gross failure to maintain adequate capital and liquidity.
If you are a participant in the IndyMac Bank, F.S.B. 401(k) Plan and held IndyMac stock in the Plan, you may contact paralegal Jennifer Tuato'o or attorneys Erin Riley, Derek Loeser or Lynn Sarko toll free at (800) 776-6044, or via e-mail at investor@kellerrohrback.com.
Keller Rohrback is one of America's leading law firms handling ERISA retirement plan litigation. We are committed to helping employees and retirees protect their retirement savings. Keller Rohrback serves as lead and co-lead counsel in numerous ERISA class action cases, including cases against Enron, WorldCom, Inc., and Merrill Lynch. Keller Rohrback has successfully provided class action representation for over a decade. Its trial lawyers have obtained judgments and settlements on behalf of clients in excess of seven billion dollars.
Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.