SAN DIEGO, June 22, 2016 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a deadline is coming up on July 5, 2016 in the lawsuit that was filed for certain investors in shares of First NBC Bank Holding Company (NASDAQ:FNBC) over alleged Securities Laws Violations by First NBC Bank Holding Company. The lawsuit seeks to recover damages for certain NASDAQ:FNBC investors.
Shares of First NBC Bank Holding Company declined from $41.99 per share in November 2015 to as low as $16.44 per share on June 21, 2016.
Investors who purchased shares of First NBC Bank Holding Company (NASDAQ:FNBC) have certain options and for certain investors there are short and strict deadlines running. Deadline: July 5, 2016. NASDAQ:FNBC investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants issued materially false and misleading statements and/or failed to disclose adverse facts regarding First NBC Bank Holding’s business and financial results, including that First NBC Bank Holding Company (“First NBC Bank Holding”) had improperly accounted for certain of its tax credit entities, that the carrying value of its investments in tax credits on its books was overstated and these investments should have been marked as impaired and charges taken against them on a more timely basis, and that First NBC Bank Holding had a larger exposure to the oil and gas industry than it had disclosed between May 10, 2013 and April 8, 2016 and had failed to take adequate reserves against this growing exposure, and that as a result of these false and misleading statements and omissions, First NBC Bank Holding stock traded at artificially inflated prices between May 10, 2013 and April 8, 2016.
Those who purchased NASDAQ:FNBC have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.