Law Offices Of Howard G. Smith Announces Class Action Lawsuit On Behalf Of Investors Of TierOne Corporation

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the District of Nebraska on behalf of all persons and entities who purchased the securities of TierOne Corporation (“TierOne” or the “Company”) (Pink Sheets:TONE) between August 8, 2008 and May 14, 2010. The complaint alleges that the Company and certain of its executive officers violated federal securities laws. Specifically, the complaint alleges that certain public statements made by TierOne during that period, including statements about the Company’s financial results, were materially false and misleading because, among others, the Company had improperly accounted for loan loss reserves.

If you are a member of the class described above, you may move the Court, no later than July 20, 2010 to serve as lead plaintiff; however, you must meet certain legal requirements. If you purchased TierOne securities between August 8, 2008 and May 14, 2010 or if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement 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 [phone], Toll Free at [phone], or by email to [e-mail].

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