NEW ORLEANS, Dec. 07, 2018 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until December 26, 2018 to file lead plaintiff applications in a securities class action lawsuit against Bank OZK (NasdaqGS: OZK), if they purchased the Company’s securities between February 19, 2016 and October 18, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the Eastern District of Arkansas.
What You May Do
If you purchased securities of Bank OZK and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-ozk/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by December 26, 2018.
About the Lawsuit
Bank OZK and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. Specifically, that the Company lacked sufficient credit risk assessment controls creating an increased risk of charge-offs, and as a result of the foregoing, the Company’s statements were materially misleading and/or lacked a reasonable basis.
On October 18, 2018, the Company disclosed that it had “incurred combined charge-offs of $45.5 million on two Real Estate Specialties Group credits” that it previously had classified as substandard. On this news, the price of Bank OZK’s shares plummeted.
The case is Colbert v. Bank OZK, et al., 18-cv-00793.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163