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ANB Financial may have damaged employees by imprudently investing retirement plan assets.

Click here if you have had similar experiences as those affected by this investigation.

Investigation Source

Lewis Feinberg Lee Renaker Jackson

1330 Broadway
Suite 1800
Oakland, CA 94612

Investigation Scope

Nationwide

Category Information

Investigation Topics

Investments
Retirement Asset
Investment Advisor Duties

Product or Service

Retirement Plan

Injury Type

Monetary Loss

Investigation Details

Investigation and pending class action filed by former employees of ANB Financial, N.A., charging that the bank holding company breached its fidicuary duties by continuing to invest participants' retirement saving via the ANB Employee Stock Ownership Plan (ESOP) in company stock even after the fiduciaries knew that the bank was engaged in unsafe and unsound banking practices. The action further charges that the fiduciaries actively misrepresented the condition of company stock to the employees, and failed to disclose to the employees the information they needed to protect their retirement savings.

Defendant Details

Name (Stock Symbol)	Brief Description
ANB Financial	ANB Financial was a bank. On May 9, 2008, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation closed ANB Financial. Pulaski Bank and Trust Company assumed the deposits.

Click here if you have had similar experiences as those affected by this investigation.

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