SunTrust Banks, Inc. (STI)

(NYSE: STI)

SUMMARY

 
 

Faruqi & Faruqi, LLP is Investigating SunTrust Banks, Inc. (STI) on Behalf of its Shareholders

Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential wrongdoing at SunTrust Banks, Inc. (“SunTrust” or the “Company”) (NYSE: STI).

The investigation focuses on whether the Company and its officers breached their fiduciary duties by causing or allowing SunTrust to engage in criminal activities, particularly in relation to its treatment of homeowners seeking to receive assistance through the U.S. Home Affordable Modification Program (HAMP).

On July 3, 2014, U.S. government officials stated that SunTrust had enticed homeowners to apply for loan assistance but subsequently failed to fulfill the Company’s obligations to review consumers' applications in a timely manner. As a result, SunTrust has committed to pay a $320 million settlement as part of an agreement with the U.S. Attorney's Office for the Western District of Virginia.

Government documents released on July 3, 2014 cite widespread problems in the way SunTrust handled the HAMP program from March 2009 through at least December 2010.

Take Action

If you currently own SunTrust stock and have continuously owned SunTrust stock since at least March 1, 2009, and would like to discuss your legal rights, please contact us by calling Stuart Guber toll free at (215) 277-5770 or by sending an e-mail to sguber@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding SunTrust conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

 
 

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Contact Counsel

Stuart J. Guber
Faruqi & Faruqi, LLP
101 Greenwood Avenue Suite 600
Jenkintown, PA 19046
Tel: (215) 277-5770
Email:  sguber@faruqilaw.com

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