BANK OZK SHAREHOLDER ALERT: CLAIMSFILER REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Bank OZK - OZK
NEW ORLEANS, Dec. 14, 2018 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until December 26, 2018 to file lead plaintiff applications in a securities class action lawsuit against Bank OZK (NasdaqGS: OZK), if they purchased the Company’s securities between February 19, 2016 and October 18, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the Eastern District of Arkansas.
Bank OZK investors should visit us at https://www.claimsfiler.com/cases/view-bank-ozk-securities-litigation or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Bank OZK and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
Bank OZK and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. Specifically, the complaint alleges that the Company failed to disclose that it lacked sufficient credit risk assessment controls creating an increased risk of loss and charge-offs, and as a result of the foregoing, the Company’s statements were materially misleading and/or lacked a reasonable basis.
On October 18, 2018, the Company disclosed that it had “incurred combined charge-offs of $45.5 million on two Real Estate Specialties Group credits” that it previously had classified as substandard.
On this news, the price of Bank OZK’s shares plummeted.
The case is Colbert v. Bank OZK, et al., 18-cv-00793.
ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
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