LOS ANGELES, April 16, 2008 (Lawfuel) — Liner Yankelevitz
Sunshine & Regenstreif LLP (“LYS&R”) has commenced an investigation
relating to WellPoint, Inc. (“WellPoint” or the “Company”) and
potential violations of the Employee Retirement Income Security Act of
1974 (“ERISA”). The investigation focuses on investments in WellPoint
by the WellPoint, Inc. 401(k) Retirement Savings Plan (the “Plan”).
LYS&R’s investigation focuses on concerns that WellPoint and the Plan’s
fiduciaries may have breached their fiduciary duties of loyalty and
prudence to the Plan’s participants. A breach may have occurred if the
fiduciaries failed to prudently manage the Plan’s assets, by among
other things, offering WellPoint stock as a Plan investment option,
requiring participants to invest in the stock, and investing and
holding Company contributions in the stock at a time when the stock was
not a suitable and appropriate investment option. A breach also may
have occurred if the fiduciaries withheld or concealed material
information from the Plan’s participants with respect to the Company’s
business, financial results, and operations, thereby encouraging
participants and beneficiaries to continue to make and maintain
substantial investments of Company stock in the Plan.
If you are a member of the WellPoint, Inc. 401(k) Retirement Savings
Plan and would like to discuss this matter or provide information
relevant to our investigation, you may contact any member of our team
toll free at (866) 620-6722, or via e-mail at classaction@linerlaw.com.
Liner Yankelevitz Sunshine & Regenstreif LLP is one of America’s
leading law firms handling ERISA retirement plan litigation. Our
attorneys helped pioneer this field in the Rite-Aid and McKesson ERISA
breach of fiduciary duty cases, among the first large-scale ERISA
401(k) cases filed. Visit our website at www.californiaclassaction.com.
CONTACT: Liner Yankelevitz Sunshine & Regenstreif LLP
Media Contact:
Laura Shovlowsky
(310) 500-3407
401K Participant Contact:
Ronald Kravitz
(866) 620-6722
classaction@linerlaw.com
www.californiaclassaction.com
