Levi & Korsinsky, LLP announces the commencement of a class action lawsuit in the USDC for the Central District of California on behalf of shareholders of Opus Bank (“Opus Bank” or the “Company”) (NASDAQ: OPB) who purchased shares between July 28, 2014 and October 17, 2016.
The complaint alleges that during the Class Period, Opus Bank made false and/or misleading statements and/or failed to disclose that: (a) some of the Company’s loans were of low quality; (b) Opus Bank was over-representing the quality of the loans to the public; (c) the Company failed to properly account for the loans in violation of the Generally Accepted Accounting Principles; (d) the Company would be forced to recognize large charge-offs associated with the loans; (e) Opus Bank lacked adequate internal controls over accounting and financial reporting; and (f) as a result of the above, the Company’s statements about its business, operations and prospects were false and misleading and/or lacked a reasonable basis.
If you suffered a loss in Opus Bank you have until December 27, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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