SOURCE: Brower Piven, A Professional Corporation

June 18, 2008 15:44 ET

Brower Piven Announces the Expansion of Class Period and Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Franklin Bank Corp. to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the August 5, 2008 Lead Plaintiff Deadline

BALTIMORE, MD--(Marketwire - June 18, 2008) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of Texas on behalf of purchasers of the common or preferred stock of Franklin Bank Corp. ("Franklin Bank" or the "Company") (NASDAQ: FBTX). The class period in this action has been expanded to include April 26, 2007 through May 1, 2008, inclusive. No class has yet been certified in this action.

Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than August 5, 2008 and be selected by the Court. The lead plaintiff will direct the litigation and participate in all important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. If you have a net loss in excess of $100,000 incurred from transactions in Franklin Bank common or preferred stock during the Class Period and are interested in directing the course of this litigation for plaintiffs, please contact Brower Piven (hoffman@browerpiven.com or 410/332-0030) to answer any questions you may have in that regard.

Franklin Bank and certain of the Company's officers are charged with making a series of materially false and misleading statements related to the Company's business and operations in violation of the Securities Exchange Act of 1934.

If you have suffered a net loss for all transactions in Franklin Bank common or preferred stock during the Class Period (including shares or possibly calls purchased during, but retained after, the Class Period or possibly put options sold but not covered until after the Class Period), you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410-332-0030, or at Brower Piven, A Professional Corporation, The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 40 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice.

Contact Information

  • CONTACT:
    Charles J. Piven
    Brower Piven, A Professional Corporation
    Baltimore, Maryland
    410/332-0030
    Email Contact