An investigation on behalf of current investors of U.S. Bancorp (NYSE:USB) over possible shareholder claims concerning breaches of fiduciary duty related to the historical and potential compensation that was awarded certain senior officers was announced.

According to the investigation by a law firm the investigation focuses on possible claims that certain U.S. Bancorps senior officers were unjustly enriched through their receipt of unwarranted, excessive or unearned compensation from 2005-2007. U.S. Bancorp operates as a financial holding company and a bank holding company. U.S. Bancorp provides a range of financial services, including lending and depository services, cash management, foreign exchange, and trust and investment management services. Certain senior officers at U.S. Bancorp, 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 U.S. 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 U.S. Bancorp is now clearly improper based upon its current operating condition. Finally the investigation focuses also on possible claims that would allow U.S. Bancorp (NYSE:USB) stockholders to influence or control future compensation decisions at U.S. Bancorp. U.S. Bancorp is located in Minneapolis in Minnesota and had $265Billion in assets with a net income of $2.9Billion. Shares of U.S. Bancorp (NYSE:USB) traded at $15.08 recently and reached almost $38 in September 2008.