NATIONAL CITY SAVINGS AND INVESTMENT PLAN
In October 2007, National City ("National City" or the "Company") (NYSE: NCC) announced a big decline in earnings due to losses related to its mortgage business. National City and other administrators of the National City Savings and Investment Plan (the "Plan") may have breached their ERISA-mandated fiduciary duties of loyalty and prudence to participants and beneficiaries of the Plans. 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.
National City employees who own National City stock through the Plan may be able to recover some of their losses. If you or anyone you know is a member of the National City Plan and purchased National City stock through the Plan, please complete a National City Plan Complaint Form for a free evaluation.
National City Savings & Investment Plan Articles
National City Bank Investigated for Possible ERISA BreachThe bank credited with writing the very first mortgage in America has also joined the ranks of those suffering huge losses thanks to the nation's credit crisis. In so doing, National City Bank may have breached its fiduciary duties surrounding prudent management of National City 401(k) retirement Plans.
National City Savings & Investment Plan Legal Help
If you or a loved one has suffered damages in this case, please click the link below to send your complaint to a lawyer to evaluate your claim at no cost or obligation.Last updated on
LEGAL ARTICLES AND INTERVIEWS
