Law Offices of Howard G. Smith Announces Investigation on Behalf of Current and Former Employees of Advanta Corp. Who Invested in the Advanta Corp. Employee Savings Plan or the Advanta Employee Stock Ownership Plan

• Press Release
• Source: Law Offices of Howard G. Smith
• On 4:27 am EDT, Friday October 16, 2009

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that it is investigating claims against Advanta Corp. ("Advanta" or the "Company") (Nasdaq: ADVNA - News) (Nasdaq: ADVNB - News) concerning whether the Advanta Corp. Employee Savings Plan or the Advanta Employee Stock Ownership Plan (the “Plans”) imprudently invested in Advanta stock and whether the Plans’ administrators breached their fiduciary duties to the Plans’ participants in violation of the Employee Retirement Income Security Act of 1974 (ERISA).

Related Quotes

Symbol	Price	Change
ADVNA	0.07	0.00

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The investigation concerns whether Advanta and other administrators of the Plans failed to prudently and loyally manage the Plans’ investments in Advanta stock by continuing to offer Company stock when the stock was no longer a prudent investment for participants’ retirement savings.

If you are a current or former employee who participated in, or continues to participate in, the Advanta Corp. Employee Savings Plan or the Advanta Employee Stock Ownership Plan and have information or would like to learn more about these claims, please contact Howard Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, Toll-Free at (888) 638-4847, by email to howardsmith@howardsmithlaw.com or visit our website at www.howardsmithlaw.com.

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com