According to a press release a law firm is currently on behalf of current and former employees Of PFF Bancorp, Inc investigating potential violations of the Employee Retirement Income Security Act of 1974 (ERISA) Regarding the PFF Bank & Trust 401K Plan and the PFF Bank & Trust employee stock ownership plan.

Update - 01/06/2009

PFF Bancorp. Inc (OTC: PFFB) has been accused of securities fraud (please see: Class Action Lawsuit On Behalf Of PFF Bancorp. Inc (OTC: PFFB) Investors Against Certain Officers and Directors of PFF Bancorp, Inc. Filed ; url: http://shareholdersfoundation.com/case/pff-bancorp-inc-case-01052009) and according to a press release under ERISA employees (former and current) of PFF Bancorp. Inc (OTC: PFFB) may be eligible to file a ERISA complaint for putting stock options at risk if they can prove their employer violated its fiduciary duty to them. The Fiduciary duty refers to a companys responsibility to the people who invest in it and if an employer puts the companys interest ahead of the investors, it has broken its fiduciary duty., so the investigation. ERISA, so the press release, is a federal law that sets minimum standards for pension and health plans set up by private businesses and ERISA was designed to protect people who participate in employee benefit plans, including employees with stock options in a company.

According to the press release the investigation involves concerns that PFF Bancorp, Inc and other administrators of the Plans may have breached their ERISA-mandated fiduciary duties of loyalty and prudence to participants and beneficiaries of the Plans by failing to prudently and loyally manage the Plans investment in Company securities either by continuing to invest Plan assets in PFF common stock when it was imprudent to do so; and or by maintaining the Plans pre-existing heave investment in PFF equity when Company stock was no long a prudent investment for the Plans.