Regions Agrees To $22.5M Deal In 401(k) Plan Class Action

Law360, New York (December 19, 2013, 3:30 PM ET) -- Regions Financial Corp. agreed to a $22.5 million class action settlement in consolidated litigation accusing Regions of keeping its stock as an employee retirement plan option even though the company's risky loan practices made it an imprudent investment, according to a Tennessee federal court filing Wednesday.

The plaintiffs' motion for preliminary approval of the deal, which covers four subclasses with varying allegations, said the case's complexity set it apart from other Employee Retirement Income Security Act fiduciary duty class cases and cited the litigation's complicated nature...
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Case Title

Hamby v. Morgan Asset Management, Inc. et al


Case Number

2:08-cv-02192

Court

Tennessee Western

Nature of Suit

Labor: E.R.I.S.A.

Judge

Samuel H. Mays, Jr

Date Filed

March 31, 2008


Case Title

IN RE: Regions Morgan Keegan Securities, Derivative and Employee Retirement Income Security Act (ERISA) Litigation - - MDL 2009


Case Number

2:09-md-02009

Court

Tennessee Western

Nature of Suit

Securities/Commodities

Judge

Samuel H. Mays, Jr

Date Filed

February 16, 2009

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