A class action lawsuit was filed against Sterling Financial Corporation on behalf of participants in and beneficiaries of the Sterling Savings Bank Employee Savings and Investment Plan and Trust in the United States District Court for the Eastern District of Washington, according to news reports.
The class action lawsuit reportedly alleges that the Plan’s fiduciaries improperly managed and failed to protect employees’ investment in Sterling stock through the Company’s 401(k) Plan in violation of the federal Employment Retirement Income Security Act (ERISA).
If you would like more information about the Sterling Financial class action lawsuit or would like to speak with a class action lawyer, contact Harwood Feffer LLP.