NEW YORK, Oct. 26, 2007 (PRIME NEWSWIRE) -- The Rosen Law Firm today announced that it has commenced an investigation into allegations that WSB Financial Group, Inc. ("WSB" or the "Company") (Nasdaq:WSFG) may have violated the federal securities laws by issuing false and misleading information to investors.
On October 24, 2007, the Company announced that the mortgage lending practices and construction loan portfolio of its Westsound Bank subsidiary was being examined by regulators for possible fraud and misconduct. Moreover, the Company announced its own internal investigation of the Company's past mortgage and construction loan origination practices. This and other adverse information has caused the Company stock to fall in value.
As a result of these allegations, the Rosen Law Firm is preparing a class action lawsuit on behalf of investors who purchased WSB's stock at any time from the date of WSB's IPO on December 14, 2006 through October 24, 2007.
You may access the website at http://www.rosenlegal.com to participate in the proposed class action.
If you purchased WSB securities and would like further information concerning your legal rights, please contact Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com or visit the website at www.rosenlegal.com
The Rosen Law Firm has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. The Rosen Law Firm represents investors throughout the nation, concentrating its practice in securities class actions.