Law Offices of Howard G. Smith, Representing Investors of Wilshire Bancorp, Inc., Announces Class Action Lawsuit
April 11 2011 - 9:30PM
Business Wire
Law Offices of Howard G. Smith, representing investors of
Wilshire Bancorp, Inc. (“WIBC” or the “Company”) (NASDAQ:WIBC), has
filed a class action lawsuit in the United States District Court
for the Central District of California on behalf of a class (the
“Class”) consisting of all persons or entities who purchased the
securities of WIBC between March 15, 2010 and March 16, 2011,
inclusive (the “Class Period”).
WIBC is the holding company of Wilshire State Bank, a California
state-chartered bank that operates 24 branch offices in California,
Texas, New Jersey and New York, and six loan production offices in
Dallas, Houston, Atlanta, Denver, Annandale, Virginia, and Fort
Lee, New Jersey, and is an SBA preferred lender nationwide. The
Complaint alleges that throughout the Class Period defendants knew
or recklessly disregarded that their public statements concerning
WIBC’s business, operations and prospects were materially false and
misleading. Specifically, the defendants made false and/or
misleading statements and/or failed to disclose: (1) that the
Company had deficiencies in its underwriting, origination, and
renewal processes and procedures; (2) that the Company was not
adhering to its underwriting policies; (3) that the Company lacked
adequate internal and financial controls; and (4) that, as a result
of the above, the Company's statements were materially false and
misleading at all relevant times.
No class has yet been certified in the above action. Until a
class is certified, you are not represented by counsel unless you
retain one. If you purchased WIBC securities between March 15, 2010
and March 16, 2011, you have certain rights and have 60 days from
March 29, 2011, to move for lead plaintiff status. To be a member
of the class you need not take any action at this time, and you may
retain counsel of your choice. If you wish to discuss this action
or have any questions concerning this Notice or your rights or
interests with respect to these matters, please contact Howard G.
Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol
Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at
(215)638-4847, Toll-Free at (888)638-4847, by email to
howardsmith@howardsmithlaw.com or visit our website at
http://www.howardsmithlaw.com.
Wilshire Bancorp, Inc. (MM) (NASDAQ:WIBC)
Historical Stock Chart
From May 2024 to Jun 2024
Wilshire Bancorp, Inc. (MM) (NASDAQ:WIBC)
Historical Stock Chart
From Jun 2023 to Jun 2024
