NEW ORLEANS, Nov. 13, 2007 (PRIME NEWSWIRE) -- Kahn Gauthier Swick, LLC ("KGS") announces that it is investigating the financial losses suffered by employees and former employees of First American Corp. ("First American" or the "Company") (NYSE:FAF) who participated in the company's 401(K) Savings Plan under the Employee Retirement Income Security Act of 1974 ("ERISA").
First American and its ERISA Plan administrators may have violated the law and breached important duties of trust and prudence owed to Plan participants. First American employees' 401(K) accounts may have been weighted too heavily with First American stock. Further, these accounts may have been overly invested in First American stock during the time First American shares declined significantly in value, thereby resulting in excessive losses for First American employees.
If you are a former First American employee who participated in the Company's 401(K) Savings Plan and are interested in protecting the value of your investment, you are encouraged to e-mail or call KGS, without obligation or cost to you. You may contact Lewis Kahn of KGS toll free 1-866-467-1400, ext. 100, via cell phone at 504-301-7900, or by email at lewis.kahn@kgscounsel.com.
To learn more about KGS, you may visit http://www.kgscounsel.com. KGS focuses its practice on securities class action litigation, and has been appointed lead counsel in numerous federal securities class actions. KGS is paid a fee if and only if we obtain a recovery.