Law Offices of Howard G. Smith announces that a securities class action lawsuit has been filed on behalf of all persons who acquired the common stock of National City Corporation pursuant and/or traceable to the Company’s registration statement filed with the Securities and Exchange Commission in connection with National City’s Corp.’s acquisition of Fidelity Bankshares, Inc. on 5 January 2007. The class action lawsuit was filed in the Fifteenth Judicial Circuit for Palm Beach County, Florida.
The Complaint alleges that the defendants violated federal securities laws by issuing material misrepresentations to the market concerning National City Corp.’s financial performance and prospects, thereby artificially inflating the price of National City Corp. stock.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased National City Corp. common stock pursuant and/or traceable to the Company’s acquisition of Fidelity Bankshares, Inc., you have certain rights, and have until 27 October 2008, to move for Lead Plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice.