Enterprise Financial Services Corp. : Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline in the Class Action Lawsuit Against Enterprise Financial Services Corp
05/04/2012| 07:50pm US/Eastern
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Law Offices of Howard G. Smith announces that all purchasers of the
securities of Enterprise Financial Services Corp ("Enterprise" or the
"Company") (NASDAQ:EFSC) between April 20, 2010 and January 25, 2012,
inclusive (the "Class Period"), have until June 11, 2012, to move the
Court to serve as Lead Plaintiff in the securities fraud class action
lawsuit filed in the United States District Court for the Eastern
District of Missouri.
Enterprise operates as the holding company for Enterprise Bank & Trust,
which provides banking and wealth management services in the St. Louis,
Kansas City and Phoenix metropolitan markets. The Complaint alleges that
the defendants issued false and/or misleading statements and/or failed
to disclose material adverse facts about Enterprise's business,
operations and prospects. Specifically, the Complaint alleges that
defendants misrepresented and/or failed to disclose that: (1) the
Company was improperly recording income on loans covered under loss
share agreements with the Federal Deposit Insurance Corporation
("FDIC"); (2) as a result, the Company's income was overstated; (3) as
such, the Company's financial results were not prepared in accordance
with Generally Accepted Accounting Principles; (4) the Company lacked
adequate internal and financial controls; and (5), as a result of the
above, the Company's financial statements were materially false and
misleading at all relevant times.
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. If
you purchased Enterprise securities between April 20, 2010 and January
25, 2012, you have certain rights, and have until June 11, 2012, to move
for lead plaintiff status. To be a member of the class you need not take
any action at this time, or may retain counsel of your choice. If you
wish to discuss this action or have questions concerning this Notice or
your rights or interests with respect to these matters, please contact
Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070
Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at
(215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at http://www.howardsmithlaw.com.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
© Business Wire 2012
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