Kendall Law Group announced today that it plans to join a lawsuit on behalf of shareholders of Frontier Financial Corporation (NASDAQ:FTBK), alleging securities violations by the Company and certain of its officers for violations of the federal securities laws in connection to their public statements affecting stock purchased between July 22, 2009 and March 16, 2010. If you wish to learn more about your rights as a shareholder or have information concerning this action, you are encouraged to contact attorney Scott Kendall at 877-744-3728 or firstname.lastname@example.org.
Any shareholder who purchased FTBK stock during this time period may move the Court to serve as a plaintiff in this class action. If you wish to serve as lead plaintiff, you must move the Court for appointment by June 14, 2010. A lead plaintiff is a class member who acts on behalf of other class members in directing the litigation. Your ability to share in any recovery is not, affected by the decision to serve as a lead plaintiff.
The complaint alleges that Frontier Financial issued materially false and misleading statements and engaged in improper behavior, which harmed investors by causing FTBK stock to trade at artificially inflated prices during the relevant period. According to the complaint, the Company also failed to adequately and timely record losses for its impaired loans, causing materially incorrect financial results and Tier 1 capital ratio. Frontier Financial was warned on March 16, 2010 by the FDIC that the company was critically undercapitalized. FTBK stock dropped nearly 32% by the end of the next day’s trading.
Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation in the nation. The firm led by former federal judge and former U.S. Attorney, is a national securities firm that represents shareholders when publicly traded companies violate the law. Shareholders who purchased Frontier common stock before or during the relevant period may have a claim against the company and are urged to contact attorney Scott Kendall for more information.