Glancy Binkow & Goldberg LLP Announces Investigation of Enterprise Financial Services Corp.
January 30 2012 - 9:30PM
Business Wire
Glancy Binkow & Goldberg LLP announces that it is
investigating potential claims on behalf of purchasers of the
securities of Enterprise Financial Services Corp. (“Enterprise
Financial” or the “Company”) (NASDAQ:EFSC) concerning possible
violations of federal securities laws. The investigation focuses on
allegations that certain statements issued by Enterprise Financial
regarding the Company’s financial performance were false and
misleading. Enterprise Financial operates as the holding company
for Missouri-based Enterprise Bank & Trust, which provides
banking and wealth management services to individuals and
businesses.
The investigation is related to the Company’s January 25, 2012
announcement that the financial statements included in its Annual
Report on Form 10-K as of and for the year ended December 31, 2010,
and the interim financial statements included in its Quarterly
Reports on Form 10-Q as of and for each of the periods ended March
31, June 30, and September 30, for 2010 and 2011, respectively,
should no longer be relied upon. 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.
If you purchased Enterprise Financial securities, if you have
information or would like to learn more about these claims, or if
you wish to discuss these matters or have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Michael Goldberg, Esquire, of Glancy Binkow
& Goldberg LLP, 1925 Century Park East, Suite 2100, Los
Angeles, California 90067, by telephone at (310) 201-9150, Toll
Free at (888) 773-9224, by e-mail to shareholders@glancylaw.com, or
visit our website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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