Law Offices of Howard G. Smith Announces Investigation on Behalf of Current and Former Employees of Advanta Corp. Who Invested in the Advanta Corp. Employee Savings Plan or the Advanta Employee Stock Ownership Plan
Business Wire
Oct 16, 2009
Law Offices of Howard G. Smith announces that it is investigating claims
against Advanta Corp. ("Advanta" or the "Company") (Nasdaq: ADVNA)
(Nasdaq: ADVNB) concerning whether the Advanta Corp. Employee Savings
Plan or the Advanta Employee Stock Ownership Plan (the “Plans”)
imprudently invested in Advanta stock and whether the Plans’
administrators breached their fiduciary duties to the Plans’
participants in violation of the Employee Retirement Income Security Act
of 1974 (ERISA).
The investigation concerns whether Advanta and other administrators of
the Plans failed to prudently and loyally manage the Plans’ investments
in Advanta stock by continuing to offer Company stock when the stock was
no longer a prudent investment for participants’ retirement savings.
If you are a current or former employee who participated in, or
continues to participate in, the Advanta Corp. Employee Savings Plan or
the Advanta Employee Stock Ownership Plan and have information or would
like to learn more about these claims, please contact Howard Smith,
Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite
112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847,
Toll-Free at (888) 638-4847, by email to howardsmith@howardsmithlaw.com
or visit our website at www.howardsmithlaw.com.
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