Ryan & Maniskas, LLP Announces Class Action Lawsuit Against TierOne Corp.

Ryan & Maniskas, LLP ( www.rmclasslaw.com/cases/tierone) announces that a class action lawsuit has been filed in United States District Court for the District of Nebraska on behalf of all persons or entities who purchased or otherwise acquired the common stock of TierOne Corporation (“TierOne” or the “Company”) (Pink Sheets: TONE) between August 8, 2008 and May 14, 2010, inclusive (the “Class Period”).

For more information regarding this class action suit, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at [phone] or by email at [e-mail] or visit: www.rmclasslaw.com/cases/tierone.

The complaint, seeking to pursue remedies under the Securities Exchange Act of 1934 (the “Act”), charges that TierOne and certain of its officers and directors violated the Act by issuing false and misleading financial information to investors. TierOne has been under strict scrutiny from the federal Office of Thrift Supervision since early 2009, after the Company reported four straight quarters of losses due to non-performing loans. Earlier this year, TierOne's independent auditor resigned. According to the filed complaint, 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, you may, no later than July 20, 2010, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.