Securities Class Action Lawsuit Filed Against Tennessee Commerce Bancorp Inc.; Shareholders With Large Losses Encouraged to Contact Holzer Holzer & Fistel, LLC Regarding January 2, 2013 Lead Plaintiff Deadline
(firmenpresse) - ATLANTA, GA -- (Marketwire) -- 12/10/12 -- A class action lawsuit has been filed on behalf of investors who purchased common stock of Tennessee Commerce Bancorp Inc. ("Tennessee Commerce" or the "Company") (PINKSHEETS: TNCC) between April 18, 2008 and September 13, 2012. The lawsuit, which was filed in the United States District Court for the Middle District of Tennessee, alleges that Tennessee Commerce issued false and misleading statements that caused its stock to trade at artificially inflated prices. Specifically, the complaint alleges the Company issued financial statements that were false and misleading during that time due to Tennessee Commerce's inadequate internal controls which, according to the complaint, left it unable to adequately monitor its loan portfolio, update or obtain appraisals for collateral or make appropriate loan loss allowances.
If you purchased Tennessee Commerce common stock between April 18, 2008 and September 13, 2012, and suffered a net loss on those purchases you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than January 2, 2013. Any member of the purported 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.
Investors who are interested in serving as lead plaintiff or who have questions concerning their legal rights may contact Michael I. Fistel, Jr., Esq. () or Marshall P. Dees, Esq. () by email or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.
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Datum: 10.12.2012 - 16:07 Uhr
Sprache: Deutsch
News-ID 211196
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