NEW YORK–(BUSINESS WIRE) — Milberg LLP announces that a class action lawsuit was filed in the United States District Court for the Eastern District of Missouri on behalf of purchasers of Enterprise Financial Services Corp. (“Enterprise Financial” or the “Company”) (NASDAQ:EFSC) common stock between April 20, 2010 and January 25, 2012, (the “Class Period”).
Milberg LLP has created a website that seeks to answer common questions about shareholder class actions.
The complaint alleges that defendants violated the Securities Exchange Act of 1934 because the company was improperly recording income on loans covered under loss share agreements with the Federal Deposit Insurance Corporation (“FDIC”).
On January 25, 2012, Enterprise Financial announced that it will have to restate its financial statements for the year ended December 31, 2010 and for the first three quarters of 2011 and 2010. In reaction to the news, Enterprise Financial shares fell 18.88% to $12.55 per share on January 26, 2012.
If you purchased Enterprise Financial shares during the Class Period you may, no later than June 11, 2012, request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a class member that represents other class members in directing the litigation. Your share in any recovery will not be affected by serving as a lead plaintiff, however, lead plaintiffs make important decisions that could affect the overall recovery for class members. You do not need to be a lead plaintiff to recover. You may retain Milberg LLP, or other attorneys, for this action, but do not need to retain counsel to recover. If this action is certified as a class action, class members will be automatically represented by Court-appointed counsel. The complaint in this action was not filed by Milberg.
If you would like to learn more about this potential matter, please fill out the form on the right or contact the following attorney:
Andrei Rado, Esq.
One Pennsylvania Plaza, 49th Fl.
New York, NY 10119-0165
Phone number: (800) 320-5081
Milberg LLP has been representing consumers and investors for more than four decades and serves as lead counsel in federal and state courts throughout the United States. Please visit the Milberg website for more information about the Firm.
Prior Results Do Not Guarantee A Similar Outcome.