September 17, 2009 18:00 ET

Notice to All UCBH Holdings, Inc. Investors From the Securities Law Firm of Tramont Guerra & Nunez, PA

CORAL GABLES, FL--(Marketwire - September 17, 2009) - The Securities Law Firm of Tramont Guerra & Núñez, PA (TGN) makes an announcement to all investors in UCBH Holdings, Inc. (NASDAQ: UCBH) concerning the class action lawsuit (Case No. 09 CV 04208) filed on September 11, 2009, in the United States District Court Northern District of California. The class action lawsuit alleges UCBH Holdings, Inc. ("UCBH") financial statements and information provided in "press releases, quarterly reports, and annual reports for fiscal year 2008 ... [were] false and misleading because UCBH intentionally concealed millions of dollars of loan charge-offs and mounting bad loans." The class action lawsuit further alleged that this course of conduct led to the artificial inflation of UCBH stock. According to class action lawsuit, UCBH issued a press release on September 8, 2009, in which UCBH admits managers of the company "intentionally concealed millions of dollars," in order to mask the amount of loan losses and the rising level of non-performing loans experienced in 2008. Prospective class members should consider whether an individual securities arbitration claim filed with the Financial Industry Regulatory Authority, (FINRA) is more effective than a class action for recovery of their investment losses.

Many investors were advised by their financial advisors that an investment in UCBH stock was a stable source of dividend income for risk adverse investors. In some instances, individuals who followed their financial advisor's advice maintained concentrated positions in the banking sector, which may have exposed investors to unnecessary and uncompensated risk. Recommendations of unsuitable investments and/or concentrated investments in the financial sector are both causes of action that form the basis for individual securities arbitration claims filed with FINRA.

The Securities Law Firm of Tramont Guerra & Núñez, PA is a nationally recognized, Martindale Hubbell "AV" rated securities law firm. To request a confidential consultation from a TGN attorney to determine whether you have a viable individual securities arbitration claim for investment losses that exceed $100,000 from a full service brokerage account, contact us on our website. To speak directly with an attorney, call (800) 578-0137 and ask for Ben Fernandez, Esquire.

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Contact Information

  • Contact:
    Ben Fernandez, Esquire
    2100 Ponce De Leon Blvd, Penthouse II
    Coral Gables, Florida 33431
    (800) 578-0137
    Email Contact