Philadelphia attorney Louis W. Fryman, chairman of Fox Rothschild LLP, was picked to administer the $90 million shareholder restitution fund set up by PNC Financial Services Group as part of its settlement with the U.S. Justice Department over securities fraud charges.

		For information Louis W. Fryman says shareholders with concerns about whether they are entitled to compensation should write to him at the firm's Philadelphia office at 2000 Market Street, Tenth Floor, Philadelphia, PA 19103-3291.

Fryman will establish the procedure for shareholders to make claims against the fund, which he expects to do before the end of the year.

The restitution fund was established to settle claims stemming from accounting maneuvers PNC used to artificially inflate profits in 2001. Claims include a class-action lawsuit covering purchasers of PNC stock between July 19, 2001, and July 18, 2002.

In June, PNC hired Independent Fiduciary Services Inc. of Washington, D.C., to represent employees of the company's 401(k) savings plan to ensure that they get their fair share of the restitution fund. About 17,000 active employees participate in the savings plan.

PNC matches employee contributions in the savings plan dollar for dollar with company stock. PNC's stock price plunged after regulators forced the company to reverse the accounting moves, which slashed $155 million from previously reported profits for 2001.

This spring, in addition to establishing the restitution fund, PNC agreed to pay a $25 million fine to avoid prosecution by Justice.