First Horizon National Corporation Investor Investigation Concerning Executive Compensation

If you currently hold First Horizon National Corporation (NYSE:FHN) shares you have certain options and you should contact the Shareholders Foundation, Inc immediately.

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Company Name(s): 
First Horizon National Corporation
Affected Securities: 

An investigation on behalf of current investors of First Horizon National Corporation (Public, NYSE:FHN) 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 First Horizon National’s senior officers were unjustly enriched through their receipt of unwarranted, excessive or unearned compensation from 2005-2007. First Horizon National Corporation is a bank holding company. Through its financial subsidiary, First Tennessee Bank National Association and its other banking-related subsidiaries, First Horizon National provides diversified financial services. Certain senior officers at First Horizon National Corporation, 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 First Horizon National’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 First Horizon National Corporation is now clearly improper based upon its current operating condition. Finally the investigation focuses also on possible claims that would allow First Horizon National Corporation (NYSE:FHN) stockholders to influence or control future compensation decisions at First Horizon National. First Horizon National is located in Memphis, Tennessee and had $31billion in total assets in 2008. Shares of First Horizon National Corporation (NYSE:FHN) traded recently at $10.92 per share down from over $21 in 2008 and over $40 in 2007.