United Community Banks Puts Up $3.5M To End ERISA Claims

United Community Banks Puts Up $3.5M To End ERISA Claims

United Community Banks Inc. has agreed to pay $3.5 million to a proposed class of pension plan beneficiaries alleging the plan's managers violated the Employee Retirement Income Security Act by continuing to invest in UCBI stock when it wasn't a prudent investment, according to court documents filed Tuesday.

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