SunTrust Banks, Inc. : Auction Rate Securities

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SunTrust Banks, Inc. : Auction Rate Securities Summary: The original Complaint alleges that SunTrust violated the securities laws by deceiving investors about the investment characteristics of Auction Rate Securities and the auction market in which these securities traded. Auction Rate Securities are either municipal or corporate debt securities or preferred stocks which pay interest at rates set at periodic "auctions." Auction Rate Securities generally have long-term maturities or no maturity dates.

Specifically, the Complaint alleges that, pursuant to uniform sales materials and/or top-down management directives, SunTrust offered and sold Auction Rate Securities to the public as highly liquid cash-management vehicles and as suitable alternatives to money market mutual funds. According to the Complaint, those who now hold Auction Rate Securities sold by SunTrust cannot liquidate their positions since the auction market for these securities has collapsed.

On September 17, 2008, U.S. District Judge Thomas W. Thrash, Jr. granted the motion to appoint Martin Zisholtz as Lead Plaintiff and approved Levi & Korsinsky, LLP and Law Offices of David A. Bain as Lead Counsel and Liaison Counsel for the Class, respectively. On November 24, 2008, the plaintiffs filed a First Amended Complaint. On December 24, 2008, the defendants filed a motion to dismiss the First Amended Complaint.

Before any ruling on the defendants' motion to dismiss the First Amended Complaint, the plaintiff filed a Second Amended Complaint on February 4, 2009. On February 24, 2009, the defendants filed a motion to dismiss the Second Amended Complaint. On September 24, 2009, Judge Thomas W. Thrash, Jr. signed an Order granting the Defendants’ Motion to Dismiss the Amended Complaint [Doc. 37], granting the Defendants’ Motion to Dismiss the Second Amended Complaint [Doc. 46], and denying the Plaintiffs’ Motion to Initiate Limited Discovery [Doc. 34]. Judgment was entered and the action was dismissed. The civil case is now terminated.

INDUSTRY CLASSIFICATION:
SIC Code: 6021
Sector: Financial
Industry: Regional Banks

COMPANY/ISSUER NAME:	SunTrust Banks, Inc.
COMPANY/ISSUER TICKER:	STI
COMPANY WEBSITE:	http://www.suntrust.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Martin Zisholtz, et al. v. SunTrust Banks, Inc., et al.

COURT: N.D. Georgia	DOCKET NUMBER: 08-CV-01287
JUDGE NAME: Hon. Thomas W. Thrash, Jr.
DATE FILED: 04/02/2008	SOURCE: Notice of Filing
CLASS PERIOD START: 04/01/2003	CLASS PERIOD END: 02/13/2008
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Holzer & Holzer, LLC 1117 Perimeter Center West, Suite E-107, Atlanta, GA, 30338 (voice) 770.392.0090, (fax) 770.392-0029, mfistel@holzerlaw.com Klayman & Toskes, P.A. 11 Broadway, Suite 400, New York, NY, 10004 (voice) 888/997-9956, (fax) 561/361-9178, stoskes@nasd-law.com Levi & Korsinsky, LLP (former) 39 Broadway, Suite 1440, New York, NY, 10006 (voice) 212.363.7500, (fax) 212.363.7171, _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 3

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint for Violations of Federal Securities Laws - Jury Trial Demanded
Type: Complaint		Date on the document: 04/02/2008
Order Appointing Martin Zisholtz As Lead Plaintiff And Approving His Selection Of Lead Counsel And Liaison Counsel For The Class
Type: Order Appointing LP/LC		Date on the document: 09/17/2008

REFERENCE COMPLAINT

Martin Zisholtz, et al. v. SunTrust Banks, Inc., et al.

COURT: N.D. Georgia	DOCKET NUMBER: 08-CV-01287
JUDGE NAME: Hon. Thomas W. Thrash, Jr.
DATE FILED: 02/04/2009	SOURCE: Docket
CLASS PERIOD START: 04/01/2003	CLASS PERIOD END: 02/13/2008
TYPE OF COMPLAINT: Second Amended
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Levi & Korsinsky, LLP (former) 39 Broadway, Suite 1440, New York, NY, 10006 (voice) 212.363.7500, (fax) 212.363.7171, _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 1

DOCUMENTS FOR THE REFERENCE COMPLAINT
First Amended Class Action Complaint For Violations Of Federal Securities Laws
Type: Complaint		Date on the document: 11/24/2008
Second Amended Class Action Complaint For Violations Of Federal Securities Laws
Type: Complaint		Date on the document: 02/04/2009
Order
Type: Order		Date on the document: 09/24/2009
Judgment
Type: Other		Date on the document: 09/25/2009
U.S. District Court Civil Docket
Type: Docket		Date on the document: 05/14/2010

OTHER DOCUMENTS

Case Name and/or Number:
Type:		Date on the document:

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