Dyer & Berens LLP Encourages Wilshire Bancorp, Inc. Investors to Consider Their Legal Options Concerning the Pending Class Actio
April 11 2011 - 2:46PM
Dyer & Berens LLP (www.DyerBerens.com) today encouraged
investors who purchased or acquired Wilshire Bancorp, Inc.
(Nasdaq:WIBC) securities between March 15, 2010 and March 16, 2011,
inclusive ("Class Period") to consider whether to seek a "lead
plaintiff" appointment in the securities class action pending in
the United States District Court for the Central District of
California.
What actions may I take at this
time? Class Period purchasers may, among other
things: (i) do nothing at this time and remain in the class action
as "absent class members;" (ii) seek to be appointed by the court
as the "lead plaintiff" in the class action; or (iii) affirmatively
opt-out of the class action and file individual lawsuits. Factors
relevant to investors' decisions may include the size of their
losses, the timing of their purchases and/or the amount of effort
they are willing to expend to attempt to recover their losses.
For a free consultation regarding your legal options, please
contact Jeffrey A. Berens, Esq., at (888) 300-3362 x302 or via
email at jeff@dyerberens.com.
What are the allegations in the
complaint? The complaint charges WIBC and
certain of its current and former executive officers with
violations of the federal securities laws. According to the
complaint, defendants made misleading statements and failed to
timely disclose material facts, including that the company: (a) had
deficiencies in its underwriting, origination, and renewal
processes and procedures; (b) was not adhering to its own
underwriting policies; and (3) lacked adequate internal and
financial controls.
About Dyer & Berens LLP. Dyer
& Berens LLP has significant expertise in prosecuting both
class and individual investor actions. The firm's extensive
experience in securities litigation, particularly in cases brought
under the Private Securities Litigation Reform Act, has contributed
to the recovery of hundreds of millions of dollars for aggrieved
investors. For more information about the firm, please go to
www.DyerBerens.com.
CONTACT: Jeffrey A. Berens
Dyer & Berens LLP
303 East 17th Avenue, Suite 300
Denver, CO 80203
Tel: (888) 300-3362 x302
Email: jeff@dyerberens.com
Website: www.DyerBerens.com
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