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Case Status:    SETTLED
On or around 11/14/2005 (Date of order of final judgment)

Filing Date: March 25, 2003

According to a press release dated November 22, 2005, Fifth Third Bancorp disclosed late Friday that a court had approved a $ 17 million settlement of a class action related to the Cincinnati company's April 2001 acquisition of Old Kent Financial Corp. The suit was filed in March 2003 in the United States District Court for the Southern District of Ohio. The settlement was approved Nov. 14.

In a press release dated May 17, 2005, Scott + Scott, LLC announced today that Fifth Third Bancorp has agreed to amend the federal securities settlement that it previously announced on April 1, 2005, to make it clear that claims brought under the Employee Retirement Income Security Act (ERISA) on behalf of employee and retiree participants in the Company's 401(k) plan will not be covered by the securities settlement. The ERISA claims are the subject of a separate class action lawsuit against Fifth Third Bancorp. Today's announcement affects current and former Fifth Third employees who have funds invested in the Fifth Third Master Profit Sharing Plan.

In a press release dated April 1, 2005, Fifth Third Bancorp said it settled a class action lawsuit brought on behalf of purchasers of its stock. In a Securities and Exchange Commission filing, Fifth Third said that subject to court approval, the settlement provides that Fifth Third's insurer and other parties will pay a total of $17 million to a fund to settle the claims with the class members.

The original complaint charges that defendants violated Sections 10(b) and 20(a)
of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated
thereunder, by issuing a series of materially false and misleading
statements to the market between September 21, 2001 to January 31, 2003.
The Complaint alleges, among other things, that Fifth Third issued press
releases and filed financial reports with the SEC which represented that
the Company had successfully and seamlessly integrated a large corporate
acquisition (Old Kent) into its operations and further represented that
its business was stronger than ever and that the Company would continue
to grow and provide investment-safety. According to the complaint, these
statements were materially false and misleading because they failed to
disclose that the Old Kent (and other) merger(s) seriously strained the
Company's infrastructure, causing deficiencies in its internal controls
and other business-critical systems. The alleged motive in this action
was the Company's plan to acquire a Tennessee-based bank using
FifthThird stock as currency. On September 10, 2002, the Company
announced that it would be taking a $54 million after-tax ($81.8 million
pre-tax) charge for impaired funds, resulting from a botched accounting
reconciliation. According to the complaint, the Company played down the
incident as a one-time immaterial event, which was false and misleading
because, according to the complaint, it was symptomatic of material,
company-wide infrastructure deficiencies. On November 14, 2002 the
Company revealed that the write-off had triggered investigations by
banking regulators and the SEC. According to the Complaint, the Company
continued to insist, falsely, that its controls were adequate. On
January 31, 2003, the Company reported that banking regulators would
likely take formal action against the Company, which would likely
require Fifth Third to improve its internal controls by, among other
things, adding personnel and processes. On February 3, 2003, the first
trading day following the announcement, the price of Fifth Third common
stock closed at $52.21 per share, a decline of 15% from the closing
price on November 14, 2002 close of $62.53, the day that Fifth Third
first revealed that it was being investigated by banking regulators and
the SEC.

COMPANY INFORMATION:

Sector: Financial
Industry: Regional Banks
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: FITB
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. Ohio
DOCKET #: 03-CV-00211
JUDGE: Hon. Sandra S. Beckwith
DATE FILED: 03/25/2003
CLASS PERIOD START: 09/21/2001
CLASS PERIOD END: 01/31/2003
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berger & Montague PC
    1622 Locust Street, Berger & Montague PC, PA 19103
    800.424.6690 215.875.4604 · investorprotect@bm.net
  2. Bernstein Liebhard & Lifshitz, LLP (New York)
    10 E. 40th Street, 22nd Floor, Bernstein Liebhard & Lifshitz, LLP (New York), NY 10016
    800.217.1522 · info@bernlieb.com
  3. Cauley Geller Bowman Coates & Rudman, LLP (New York)
    200 Broadhollow, Suite 406, Cauley Geller Bowman Coates & Rudman, LLP (New York), NY 11747
    631.367.7100 631.367.1173 ·
  4. Chitwood & Harley LLP
    1230 Peachtree Street, N.E., 2300 Promenade II, Chitwood & Harley LLP, GA 30309
    888.873.3999 404.873.4476 · info@chitwoodlaw.com
  5. Faruqi & Faruqi LLP (New York) (former)
    320 East 39th Street, Faruqi & Faruqi LLP (New York) (former), NY 10016
    212.983.9330 212.983.9331 · Nfaruqi@faruqilaw.com
  6. Law Offices of Charles J. Piven, P.A.
    World Trade Center-Baltimore,401 East Pratt Suite 2525, Law Offices of Charles J. Piven, P.A., MD 21202
    410.332.0030 · pivenlaw@erols.com
  7. Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY)
    One Pennsylvania Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY), NY 10119-1065
    212.594.5300 ·
  8. Murray, Frank & Sailer LLP (Milwaukee)
    3181 South 27th Street, Murray, Frank & Sailer LLP (Milwaukee), WI 53215
    866.264.3995 414.482.8001 · info@murrayfrank.com
No Document Title Filing Date
COURT: S.D. Ohio
DOCKET #: 03-CV-00211
JUDGE: Hon. Sandra S. Beckwith
DATE FILED: 08/18/2004
CLASS PERIOD START: 09/21/2001
CLASS PERIOD END: 01/31/2003
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Ademi & O'Reilly, LLP
    3620 East Layton Ave., Ademi & O'Reilly, LLP, WI 53110
    866-264-3995 414-482-8001 · inquiry@ademilaw.com
  2. Cauley Bowman Carney & Williams, PLLC (Little Rock)
    11001 Executive Center Drive, Suite 200, Cauley Bowman Carney & Williams, PLLC (Little Rock), AR 72211
    501.312.8500 888.551.9944 · info@cauleybowman.com
  3. Faruqi & Faruqi LLP (New York) (former)
    320 East 39th Street, Faruqi & Faruqi LLP (New York) (former), NY 10016
    212.983.9330 212.983.9331 · Nfaruqi@faruqilaw.com
  4. Milberg Weiss Bershad & Schulman LLP (New York)
    One Pennsylvania Plaza, 49th Floor, Milberg Weiss Bershad & Schulman LLP (New York), NY 10119
    212.594.5300 212.868.1229 · info@milbergweiss.com
  5. Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY)
    One Pennsylvania Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY), NY 10119-1065
    212.594.5300 ·
No Document Title Filing Date