A lawsuit was filed on behalf of investors in Cadence Bancorporation (NYSE: CADE) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 10/01/2019 -- An investor, who purchased shares of Cadence Bancorporation (NYSE: CADE), filed a lawsuit i over alleged violations of Federal Securities Laws by Cadence Bancorporation.
Investors who purchased shares of Cadence Bancorporation (NYSE: CADE) have certain options and for certain investors are short and strict deadlines running. Deadline: November 15, 2019. NYSE: CADE investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On July 22, 2019, Cadence Bancorporation disclosed that "higher credit costs including net charge-offs of $18.6 million and loan provisions of $28.9 million" negatively impacted its second quarter 2019 financial results.
Shares of Cadence Bancorporation (NYSE: CADE) declined to as low as $15.55 per share on July 22, 2019.
The plaintiff claims that between July 23, 2018 and July 22, 2019, 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, as a result, the Company was reasonably likely to incur significant losses for certain loans, that the Company's financial results would suffer a material adverse impact, 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 Cadence Bancorporation (NYSE: CADE) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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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