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Kahn Swick & Foti, LLC and Former Louisiana Attorney General Announce Investigation Into Wilmington Trust a" WL

^{Published on 2010-11-06 08:36:02 - Market Wire}
 

NEW ORLEANS--([ BUSINESS WIRE ])--Kahn Swick & Foti, LLC (aKSFa) and Former Attorney General of Louisiana, Charles C. Foti, Esq. announce the commencement of an investigation into Wilmington Trust Corporation Co. ("Wilmington Trust" or the "Company") (NYSE: WL) to determine whether it has violated federal securities laws by issuing false and misleading statements to its shareholders.

Wilmington Trust has agreed to sell itself toM&T BankCorp. at a 46% discount from the Delaware bank's share price just a few days ago, representing a deep discount on a stock that traded at $7.11 on October 29th. This, after shares of Wilmington Trust tumbled 41% on the same day that the Company announced the latest in a slew of poor quarterly results. The company reported an unexpectedly large third-quarter loss of $365.3 million compared with a loss of $5.9 million in the year-earlier period.

What You May Do

If you have information that would assist KSF in its investigation, or would like to discuss your legal rights, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn ([ lewis.kahn@ksfcounsel.com ]), toll free 877-515-1850, after hours via cell phone 504-301-7900, or KSF Director of Client Relations, Neil Rothstein, Esq. ([ neil.rothstein@ksfcounsel.com ]), toll free at 877-694-9510, or after hours via cell phone 330-860-4092. KSF also encourages anyone with information regarding Capellaa™s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.

About Kahn Swick & Foti, LLC

KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities class action and shareholder derivative litigation with offices in New York and Louisiana. KSF's lawyers have significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders. Recent cases include In re Virgin Mobile USA IPO Litigation,2:07-cv-05619-SDW-MCA (D. N.J.), Co-Lead Counsel, $19.5 Million Settlement Preliminarily Approved; In re BigBand Networks, Inc Securities Litigation,3:07-CV-05101-SBA (C.D. Cal.),Co-Lead Counsel, $11 million settlement; In re U.S. Auto Parts Networks, Inc. Securities Litigation,2:07-cv-02030-GW-JC (C.D. Cal.),Lead Counsel, $10 million settlement. KSF is also federally court-appointed Co-Lead Counsel in THE shareholder derivative cases against AIG and Bank of America (Merrill Lynch merger) emanating from their recent multi-billion dollar economic declines.

To learn more about KSF, you may visit[ www.ksfcounsel.com ].