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If you are a current long term investor Fifth Third Bancorp (NASDAQ:FITB) stock, you have certain options and you should contact the Shareholders Foundation, Inc by email mail@shareholdersfoundation.com or call +1(858) 779 1554.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
An investigation on behalf of current long term investors in Fifth Third Bancorp (NASDAQ:FITB) concerning breaches of fiduciary duty related to the historical and potential compensation that was awarded certain senior officers of Fifth Third Bancorp was announced.
Fifth Third Bancorp, located in Cincinnati, OH, is a diversified financial services company. The Bancorp operates in four business segments: Commercial Banking, Branch Banking, Consumer Lending and Investment Advisors.
According to the investigation by a law firm the investigation on behalf of current long term investors in Fifth Third Bancorp (NASDAQ:FITB) stock focuses, among other things, on possible claims that certain of Fifth Third Bancorps senior officers were unjustly enriched through their receipt of unwarranted, excessive or unearned compensation in past years. The investigation also concerns potential breaches of fiduciary duty in connection with certain tax schemes, liabilities, and settlements, repurchases of company stock, insider tradings, massive losses, and other events.
Fifth Third Bancorp reported in 2007 a Net Income of $1.076billion, but reported in 2008 a Net Loss of $2.113billion.
Certain senior officers at Fifth Third (NASDAQ:FITB), were awarded salaries, bonuses, stock options and other forms of long-term, incentive or retirement compensation that was, so the investigation, excessive or unwarranted based on the Fifth Third Bancorps performance as compared to what senior officers at comparable companies were making and/or results that were fraudulent, misleading or not long-lasting. The investigation by the law firm is also investigating claims that the prior compensation awarded at Fifth Third Bancorp (FITB) is now clearly improper based upon its current operating condition. Finally the investigation focuses also on possible claims that would allow Fifth Third Bancorp (NASDAQ:FITB) stockholders to influence or control future compensation decisions at Fifth Third Bancorp. Shares of Fifth Third Bancorp (FITB) traded recently at $12.04 per share, and were down from its 52weekHigh of $15.95 per share, over $28 per share during 2008, and almost $43 per share in 2007.
