Law Offices of Howard G. Smith Announces Investigation on Behalf of Current & Former Employees of Advanta Corp. Who Invested ...
October 16 2009 - 4:27AM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating claims against Advanta Corp. ("Advanta" or the
"Company") (Nasdaq: ADVNA) (Nasdaq: ADVNB) concerning whether the
Advanta Corp. Employee Savings Plan or the Advanta Employee Stock
Ownership Plan (the “Plans”) imprudently invested in Advanta stock
and whether the Plans’ administrators breached their fiduciary
duties to the Plans’ participants in violation of the Employee
Retirement Income Security Act of 1974 (ERISA).
The investigation concerns whether Advanta and other
administrators of the Plans failed to prudently and loyally manage
the Plans’ investments in Advanta stock by continuing to offer
Company stock when the stock was no longer a prudent investment for
participants’ retirement savings.
If you are a current or former employee who participated in, or
continues to participate in, the Advanta Corp. Employee Savings
Plan or the Advanta Employee Stock Ownership Plan and have
information or would like to learn more about these claims, please
contact Howard Smith, Esquire, of Law Offices of Howard G. Smith,
3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by
telephone at (215) 638-4847, Toll-Free at (888) 638-4847, by email
to howardsmith@howardsmithlaw.com or visit
our website at www.howardsmithlaw.com.
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