SunTrust Banks, Inc. (NYSE:STI) Investor Investigation Over Upcoming Shareholder Vote Announces

If you are a current long-term stockholder of shares of SunTrust Banks, Inc. (NYSE:STI), you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
SunTrust Banks
Affected Securities: 
NYSE: STI

March 14, 2014 (Shareholders Foundation) - An investigation on behalf of current long-term stockholders of shares of SunTrust Banks, Inc. (NYSE:STI) was initiated concerning whether certain SunTrust Banks officers and directors possibly breached their fiduciary duties in connection with certain statements.

The investigation by a law firm concerns whether certain SunTrust Banks officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders' approval of SunTrust Bank's 2009 Stock Plan.

In the Proxy Statement filed by SunTrust Banks, Inc. with the Securities and Exchange Commission the Board of Directors recommends that SunTrust's shareholders vote to approve the issuance of 8,302,397 shares under the 2009 Stock Plan.

According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of SunTrust Banks, Inc.

SunTrust Banks, Inc. reported that its Net Income declined from over $1.95 billion in 2012 to over $1.34 billion in 2013.

Shares of SunTrust Banks, Inc. (NYSE:STI) grew from $16.48 per share in December 2011 to as high as $39.87 per share in January 2014.

On March 14, 2014, NYSE:STI shares closed at $38.62 per share.