2009-11-06 21:09:42 - Investigation over shareholder claims on behalf of current long term investors in SunTrust Banks, Inc. (Public, NYSE:STI) continues - Contact the Shareholders Foundation, Inc. at mail@shareholdersfoundation.com

A lawsuit on behalf of investors, who purchased their SunTrust Banks, Inc. (Public, NYSE:STI) shares between July 22, 2008 and January 21, 2009, alleging violations of Federal Securities Laws by Suntrust and others is currently pending in the United States District Court for the Northern District of Georgia. In addition an investigation on behalf of long term investors of SunTrust

Banks, Inc. (Public, NYSE:STI), who currently hold their STI shares, focusing on potential claims against certain directors and officers of SunTrust Banks, Inc. (NYSE:STI) is ongoing.

If you are a current long-term investor in SunTrust Banks, Inc. (Public, NYSE:STI), you have certain options and you should contact the Shareholders Foundation, Inc. at email: mail(at)shareholdersfoundation.com or at: +1 (858) 779 - 1554.

An investor in SunTrust Banks, Inc (NYSE: STI) shares has filed a proposed securities class action lawsuit on behalf of the above stated purchasers of SunTrust Banks, Inc. publicly traded securities (NYSE: STI) alleging that SunTrust Banks, Inc (“SunTrust”) and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between July 22, 2008 and January 21, 2009 false and misleading statements about SunTrust’s financial results and conditions.
The plaintiff alleges among other things, that SunTrust was not as well capitalized as represented, and, notwithstanding the $3.5 billion the Company received on November 17, 2008 from the Troubled Asset Relief Program, SunTrust announced that it would have to raise an additional $1.4 billion in TARP funds just three weeks later. As SunTrust’s true condition slowly came to light in a series of write-downs, reserve increases and capital-raising, SunTrust’s stock price dropped from a high of over $59 per share between July22, 2008 and January 21, 2009 to less than $14 per share, so the lawsuit. Those who are current long-term investors in SUNTRUST BANKS (NYSE: STI), have certain options and should contact the Shareholders Foundation.