Associated Banc-Corp Investor Investigation Concerning Executive Compensation

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Company Name(s): 
Associated Banc-Corp
Affected Securities: 

An investigation on behalf of current investors of Associated Banc-Corp (Public, NASDAQ:ASBC) 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 Associated Banc-Corp’s senior officers were unjustly enriched through their receipt of unwarranted, excessive or unearned compensation from 2005-2007. Associated Banc-Corp is a bank holding company. During the year ended December 31, 2008, Associated Banc-Corp owned one nationally chartered commercial bank, serving local communities within its three-state footprint (Wisconsin, Illinois and Minnesota). Certain senior officers at Associated Banc-Corp, 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 Associated Banc-Corp’s 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 Associated Banc-Corp is now clearly improper based upon its current operating condition. Finally the investigation focuses also on possible claims that would allow Associated Banc-Corp (Public, NASDAQ:ASBC) stockholders to influence or control future compensation decisions at Associated Banc-Corp. Associated Banc-Corp is located in Green Bay, Wisconsin and had $24billion in total assets with a net income of $168million in 2008. Shares of Associated Banc-Corp (NASDAQ:ASBC) traded recently at $16.01 per share down from almost $26 in September and over $35 in 2007.