SOURCE: Shareholders Foundation, Inc.

Shareholders Foundation, Inc.

April 17, 2012 09:34 ET

Enterprise Financial Services Corp. (EFSC) Investor Lawsuit Over Alleged Misleading Statements Announced by Shareholders Foundation

SAN DIEGO, CA--(Marketwire - Apr 17, 2012) - The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in Enterprise Financial Services Corp. (EFSC) in the U.S. District Court for the Eastern District of Missouri against Enterprise Financial Services Corp. over alleged violations of Federal Securities Laws in connection with allegedly false and misleading statements.

If you purchased shares of Enterprise Financial Services Corp. (EFSC) shares, including but not limited to those who purchased EFSC shares between April 20, 2010 and January 25, 2012, you have certain options and you should contact the Shareholders Foundation by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.

According to the complaint the plaintiff alleges that Enterprise Financial Services Corp. and certain its executive officers violated the Securities Exchange Act of 1934.

On January 25, 2012, Enterprise Financial Services Corp announced that it will have to restate its financial statements for the year ended December 31, 2010 and for the first three quarters of 2011 and 2010. Enterprise Financial Services Corp said it discovered an accounting error that resulted in an inadvertent overstatement of income on loans covered by FDIC loss share agreements during those periods and as a result its Annual Report for the 2010 fiscal year and its Quarterly Reports for first three fiscal quarters of 2010 and 2011, respectively, should no longer be relied upon.

Shares of Enterprise Financial Services Corp. (EFSC) fell from $15.50 on Jan. 25, 2012 to $12.55 on Jan. 21, 2012 and closed on April 13, 2012 at $11.77 per share.

Those who purchased Enterprise Financial Services Corp. (EFSC) shares have certain options and should contact the Shareholders Foundation.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

Contact Information

  • CONTACT:
    Shareholders Foundation, Inc.
    Trevor Allen
    +1 (858) 779-1554
    mail@shareholdersfoundation.com
    3111 Camino Del Rio North
    Suite 423
    San Diego, CA 92108