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Legal briefs: SunTrust agrees to pay $4.8M to settle 401(k) plan lawsuit


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Legal briefs: SunTrust agrees to pay $4.8M to settle 401(k) plan lawsuit

S&P Global Market Intelligence rounds up a selection of recent legal and regulatory developments in the bank space.

* Plaintiff in Clifton-Kearny merger suit files for its voluntary dismissal

Paul Parshall on March 9 filed for his lawsuit's voluntary dismissal, without prejudice, against Clifton Bancorp Inc. and Kearny Financial Corp. The case had sought to prevent the New Jersey-based companies' merger.

* SunTrust to settle 401(k) plan lawsuit for $4.8M

Atlanta-based SunTrust Banks Inc. agreed to pay about $4.8 million to settle allegations that it violated the Employee Retirement Income Security Act of 1974.

* First Mid-Illinois, First BancTrust reach deal in merger-related suit

First Mid-Illinois Bancshares Inc. and First BancTrust Corp. have released supplemental merger-related disclosures, following allegations they failed to disclose material information about their deal.