Kahn Swick & Foti, LLC and Former Louisiana Attorney General Announce Investigation Into Wilmington Trust – WL
November 05 2010 - 7:54PM
Business Wire
Kahn Swick & Foti, LLC (“KSF”) and Former Attorney General
of Louisiana, Charles C. Foti, Esq. announce the commencement of an
investigation into Wilmington Trust Corporation Co. ("Wilmington
Trust" or the "Company") (NYSE: WL) to determine whether it has
violated federal securities laws by issuing false and misleading
statements to its shareholders.
Wilmington Trust has agreed to sell itself to M&T
Bank Corp. at a 46% discount from the Delaware bank's share
price just a few days ago, representing a deep discount on a stock
that traded at $7.11 on October 29th. This, after shares of
Wilmington Trust tumbled 41% on the same day that the Company
announced the latest in a slew of poor quarterly results. The
company reported an unexpectedly large third-quarter loss of $365.3
million compared with a loss of $5.9 million in the year-earlier
period.
What You May Do
If you have information that would assist KSF in its
investigation, or would like to discuss your legal rights, you may,
without obligation or cost to you, e-mail or call KSF Managing
Partner, Lewis Kahn (lewis.kahn@ksfcounsel.com), toll free
877-515-1850, after hours via cell phone 504-301-7900, or KSF
Director of Client Relations, Neil Rothstein, Esq.
(neil.rothstein@ksfcounsel.com), toll free at 877-694-9510, or
after hours via cell phone 330-860-4092. KSF also encourages
anyone with information regarding Capella’s conduct during the
period in question to contact the firm, including whistleblowers,
former employees, shareholders and others.
About Kahn Swick & Foti,
LLC
KSF, whose partners include the Former Louisiana Attorney
General Charles C. Foti, Jr., is a law firm focused on securities
class action and shareholder derivative litigation with offices in
New York and Louisiana. KSF's lawyers have significant experience
litigating complex securities class actions nationwide on behalf of
both institutional and individual shareholders. Recent cases
include In re Virgin Mobile USA IPO
Litigation, 2:07-cv-05619-SDW-MCA (D. N.J.), Co-Lead Counsel,
$19.5 Million Settlement Preliminarily Approved; In re
BigBand Networks, Inc Securities
Litigation, 3:07-CV-05101-SBA (C.D. Cal.), Co-Lead
Counsel, $11 million settlement; In re U.S. Auto
Parts Networks, Inc. Securities
Litigation, 2:07-cv-02030-GW-JC (C.D. Cal.),Lead
Counsel, $10 million settlement. KSF is also federally
court-appointed Co-Lead Counsel in THE shareholder derivative cases
against AIG and Bank of America (Merrill Lynch merger) emanating
from their recent multi-billion dollar economic declines.
To learn more about KSF, you may
visit www.ksfcounsel.com.
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