Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Enterprise Financial Services Corp.
January 30 2012 - 8:34AM
Business Wire
Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC is
investigating potential claims on behalf of purchasers of the
securities of Enterprise Financial Services Corp. (“Enterprise
Financial” or the “Company”) (Nasdaq: EFSC), concerning whether the
company and certain of its officers and directors have violated
federal securities laws.
Enterprise Financial stated, on January 25, 2012, that it will
restate its financial statements for the year ended December 31,
2010 and for the first three quarters of 2011 and 2010. The Company
stated that it discovered an error in its process used to record
income on loans covered under loss share agreements with the
Federal Deposit Insurance Corporation (FDIC) during the foregoing
periods, and as a result the Company overstated income during these
periods. The Company further stated that its Annual Report on Form
10-K for the year ended December 31, 2010 and the interim financial
statements included in its Quarterly Reports on Form 10-Q for each
of the periods ended March 31, June 30, and September 30, for 2010
and 2011, respectively, should no longer be relied upon.
If you are aware of any facts relating to this investigation, or
purchased shares of Enterprise Financial, you can assist this
investigation by contacting either Peretz Bronstein or Eitan
Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484
or via email eitan@bgandg.com. Those who inquire by e-mail are
encouraged to include their mailing address and telephone
number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation
boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to
representing institutions and other investor plaintiffs in class
action security litigation, the firm’s expertise includes general
corporate work, private securities offerings, and securities
arbitration.
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