SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

November 07, 2016 09:48 ET

INVESTOR ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Opus Bank of a Class Action Lawsuit and a Lead Plaintiff Deadline of December 27, 2016 -- OPB

NEW YORK, NY--(Marketwired - November 07, 2016) - The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of Opus Bank (NASDAQ: OPB) between July 28, 2014 and October 17, 2016. You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Central District of California. To get more information go to:

http://www.zlk.com/pslra/opus-bank

or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The complaint alleges that during the Class Period, Opus Bank made false and/or misleading statements and/or failed to disclose that: (a) some of the Company's loans were of low quality; (b) Opus Bank was over-representing the quality of the loans to the public; (c) the Company failed to properly account for the loans in violation of the Generally Accepted Accounting Principles; (d) the Company would be forced to recognize large charge-offs associated with the loans; (e) Opus Bank lacked adequate internal controls over accounting and financial reporting; and (f) as a result of the above, the Company's statements about its business, operations and prospects were false and misleading and/or lacked a reasonable basis.

If you suffered a loss in Opus Bank you have until December 27, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Joseph E. Levi, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com