To Stockholders Who Suffered Financial Loss Relating to Banks' Failure to Manage Loan Portfolios, Including Failure to Maintain Sufficient Loan Loss Reserves.
The law firm of Schad, Diamond & Shedden, PC is investigating banks and other financial institutions for their failure to prudently manage their loan portfolios, causing significant loss to stockholders.
Banks are required to maintain "loan loss reserves", sometimes called "allowance for loan and lease losses" (ALLL) or "allowance for credit losses" (ACL). Banks are required to follow well-established and supportable metrics as well as stringently documented policies and procedures.
Stockholders have alleged that various banks failed to maintain proper loan loss reserves. Stockholders have alleged that various banks by not managing loan portfolios have violated the Securities Exchange Act of 1934, breached their fiduciary duties to stockholders and engaged in other illegal conduct. Banks allegedly made false and misleading statements or omitted material facts about the banks' financial condition. Specifically, these banks allegedly issued public financial statements which failed to account for millions of dollars in loans that were highly unlikely to be repaid and should have been written off.
You may contact us if you purchased common stock of a financial institution which you believe has resulted in significant financial loss.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Lawrence W. Schad at (312)554-8400.
Schad, Diamond & Shedden is active in major litigation in federal and state courts throughout the United States and has taken a leading role in many actions on behalf of defrauded investors and consumers.
Tony Kim - Associate
Direct Line: (312)554-8403