NEW YORK, Aug. 1, 2008 (PRIME NEWSWIRE) -- The Rosen Law Firm reminds investors of the August 5, 2008 deadline for purchasers of Franklin Bank Corp. common and preferred stock ("Franklin") (Nasdaq:FBTX) (Amex:FBK-P) to request to serve as lead plaintiff in the securities class action on behalf of Franklin shareholders. If you purchased Franklin securities at anytime during the period between April 26, 2007 through May 1, 2008 you can participate in this securities class action to recover losses for Franklin investors.
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. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER.
To join the Franklin class action, go to the website at http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action.
The complaint alleges that defendants engaged in a variety of accounting improprieties, including their admitted failure to charge off uncollectible loans and to mark Franklin's loans to market. As a result of the misconduct alleged, defendants understated the Company's delinquent, nonperforming, and uncollectible loans and thereby misrepresented Franklin's financial condition and results, including its overall and per-share profit of its residential mortgage loan portfolio.
A class action lawsuit has already been filed on behalf of Franklin shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than August 5, 2008. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact plaintiff's counsel, Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca