Statman, Harris & Eyrich, LLC Announces Investigation on Behalf of Participants and Beneficiaries of the UBS AG Savings and Investment Plan
Posted on: Tuesday, 29 July 2008, 15:00 CDT
CINCINNATI, July 29, 2008 (PRIME NEWSWIRE) -- The class action Cincinnati law firm of Statman, Harris & Eyrich, LLC announces it is investigating UBS AG ("Company") (NYSE:UBS) for potential violations of the Employee Retirement Income Security Act of 1974 ("ERISA") relating to the UBS AG Savings and Investment Plan that purchased or held UBS AG stock ("Plan").
This investigation focuses on whether fiduciaries of the Plan breached their fiduciary duties by failing to prudently manage the Plan's assets by, among other things, offering UBS stock as an investment option when it was no longer prudent to do so or encouraging that the Plan invest in UBS stock while withholding or concealing material business or financial information from the Plan's participants and beneficiaries. Specifically, the firm is investigating whether fiduciaries of the Plan knew, or should have known, of the apparent mismanagement of the risk of assets held by the company and its gross failure to maintain adequate capital and liquidity.
Current and former employees of UBS who currently hold UBS stock in the Plan may have a claim to recover losses in their retirement investment. If you are interested in protecting the value of your investment, please contact Elizabeth L. Hutton, Esq. at (513) 621-2666 or (888) 876-7881, or via e-mail at ehutton@statmanharris.com for further information without any obligation or cost to you.
Statman, Harris & Eyrich, LLC has offices in Chicago, Illinois; Cincinnati, Ohio; and Dayton, Ohio. www.statmanharris.com
This news release was distributed by PrimeNewswire, www.primenewswire.com
CONTACT: Statman, Harris & Eyrich, LLC Elizabeth L. Hutton, Esq. (513) 621-2666 Toll-Free: (888) 876-7881 ehutton@statmanharris.com 441 Vine Street, Suite 3700 Cincinnati, Ohio 45202
Source: PrimeNewswire
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