This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Class Action Lawsuit Against 1st Centennial Bancorp May Require Additional Class Representatives

SAN DIEGO, Aug. 6, 2013 /PRNewswire/ -- On April 20, 2011, shareholder rights attorneys at Robbins Arroyo LLP announce that an investor commenced a class action lawsuit in the U.S. District Court for the Central District of California (the "Court"), on behalf of all persons who purchased or otherwise acquired 1st Centennial Bancorp ("1st Centennial" or the "Company") common stock  between March 9, 2007 and January 23, 2009, against certain of 1st Centennial's former officers and directors for violations of the Securities Exchange Act of 1934 (the "Action").  This press release is being published to alert shareholders about recent events in the Action.


The Action Seeks Redress for 1st Centennial's Alleged False and Misleading Statements Made By the Company's Officers and Directors

The complaint alleges that certain of 1st Centennial's former officers and directors made materially false and misleading statements during the class period in press releases and filings with the U.S. Securities and Exchange Commission regarding 1st Centennial's financial health and business prospects.  On June 25, 2013, the Court held that a statement made on August 7, 2008, satisfied legal standards for stating a securities fraud claim, but dismissed the remaining class claims, potentially narrowing the class to shareholders who purchased 1st Centennial common stock between August 7, 2008 and January 23, 2009.  

The Claims Asserted on Behalf of 1st Centennial May Be Stronger if Another 1st Centennial Shareholder Is Substituted as Class Representative

The Action and the likelihood of a class being certified may be considered stronger if another 1st Centennial shareholder is substituted and/or added as a class representative in the lawsuit.  Dismissal of the Action may bar any other action bringing the same claims asserted in this Action because the applicable limitation periods may have expired.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs