Proposed Class Action Lawsuit Filed on Behalf of Former Shareholders of Waterfield Mortgage Company, Incorporated

HOUSTON, May 22 /PRNewswire/ -- Susman Godfrey L.L.P. and Murphy Murphy Moul + Basil L.L.P. have filed a class action complaint in the United States District Court for the Southern District of Ohio on behalf of certain current and former shareholders of Huntington Bancshares Incorporated ("Huntington") whose shares of stock in Waterfield Mortgage Company, Incorporated ("Waterfield") were converted into shares of stock in Sky Financial Group, Inc. ("Sky Financial") in connection with Sky Financial's October 2006 acquisition of Waterfield, and then converted into shares of stock in Huntington in connection with Huntington's July 2007 merger with Sky Financial. The complaint names Huntington, Marty E. Adams, and Kevin T. Thompson as defendants. The complaint alleges that Huntington, as successor in interest to Sky Financial, violated sections 11 and 12(2) of the Securities Act of 1933, and that Adams and Thompson are liable because, under section 15 of the Securities Act of 1933, they were Control Persons of Sky Financial. The complaint seeks damages for members of alleged class who sold shares of stock in Huntington during the class period from November 16, 2007 to the present, or who continue to hold shares of stock in Huntington.

If you wish to serve as lead plaintiff, you must move the Court no later than July 21, 2008. If you wish to consider joining this action as lead plaintiff, discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Geoffrey L. Harrison of Susman Godfrey L.L.P. at [phone] or via e-mail at [e-mail], or Geoffrey J. Moul of Murphy Murphy Moul + Basil L.L.P. at [phone] or via e-mail at [e-mail]. You can view a copy of the complaint by clicking the link below. Any member of the class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions that could affect the overall recovery for class members, including decisions concerning settlement. The securities laws require the Court to consider the class member or members with the largest financial interest as presumptively the most adequate lead plaintiff.

The complaint alleges that Sky Financial, Adams and Thompson made false and misleading statements in, and omitted material information from, certain of Sky Financial's registration statements and prospectuses regarding various material matters, including Sky Financial's undisclosed lending relationship with a sub-prime residential mortgage company called Franklin Credit Management Corporation ("Franklin Credit"), investment allocation, performance, loan characteristics, sub-prime exposure, and other matters. On April 5, 2006, Sky Financial filed a Form S-4 Registration Statement and proxy statement/prospectus, and on July 26, 2006, Sky Financial filed a near identical Form S-4/A Amendment No. 1 and proxy statement/prospectus to its April 5, 2006 Form S-4 Registration Statement. Defendants falsely and misleadingly described Sky Financial as a company with a "conservative credit culture" and a "disciplined lending practice." Defendants omitted any mention of Sky Financial's relationship with Franklin Credit, and falsely and misleadingly mischaracterized Sky Financial's $1.2 billion in loans to Franklin Credit as commercial loans rather than residential mortgage loans.

On November 16, 2007, Huntington made the first in a series of announcements of material information that was materially and qualitatively different from information that previously had been provided to the alleged plaintiff class. On December 3, 2007, Huntington announced the retirement of defendant Marty A. Adams, the former chairman of Sky Financial who, after Huntington's merger with Sky Financial, had become Huntington's president and chief operating officer.

Susman Godfrey, a law firm with offices in Dallas, Houston, Los Angeles, New York, and Seattle, is active in major litigation pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies. More information about Susman Godfrey is available on its website, http://www.susmangodfrey.com/.

Murphy Murphy Moul + Basil, based in Columbus, OH, also has had an active role in litigated cases on behalf of defrauded investors. More information about Murphy Murphy Moul + Basil is available on its website, http://www.mmmb.com/.

CONTACT: Susman Godfrey L.L.P. Geoffrey L. Harrison [phone]://www.susmangodfrey.com/ Murphy Murphy Moul + Basil L.L.P. Geoffrey J. Moul [phone]://www.mmmb.com/

To view the complaint, click here: http://www.susmangodfrey.com/default/Attorney%20Articles/SG_Waterfield.pdf