A lawsuit was filed on behalf of investors in Bank OZK (NASDAQ: OZK) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 11/12/2018 -- An investor, who purchased shares of Bank OZK (NASDAQ: OZK), filed a lawsuit i over alleged violations of Federal Securities Laws by Bank OZK.
Investors in shares of Bank OZK (NASDAQ: OZK) have certain options and for certain investors are short and strict deadlines running. Deadline: December 25, 2018. Bank OZK (NASDAQ: OZK investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
Little Rock, AZ based Bank OZK provides a range of retail and commercial banking services to businesses, individuals, and non-profit and governmental entities. Bank OZK reported that its annual Total Revenue rose from $679.3 million in 2016 to $913.19 million in 2017 and that its Net Income increased from $269.97 million in 2016 to $421.89 million in 2017.
On October 19, 2018, Bank OZK announced its third-quarter earnings that missed expectations, including charge-offs of $45.5 million on two Real Estate Specialties Group credits for unrelated projects in South and North Carolina. Shares of Bank OZK (NASDAQ: OZK) declined from over $40 per share in September 2018 to as low as $24,21 per share on October 24, 2018.
According to the complaint the plaintiff alleges on behalf of purchasers of Bank OZK (NASDAQ: OZK) common shares between February 19, 2016 and October 18, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 19, 2016 and October 18, 2018, the Defendants failed to disclose to investors that the Company lacked adequate internal controls to assess credit risk, that, as a result, certain of the Company's loans posed an increased risk of loss, that certain substandard loans were reasonably likely to lead to charge-offs, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of Bank OZK (NASDAQ: OZK) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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