TierOne Corporation is an American company that provides commercial banking services for retail and institutional customers.

According to a press release dated May 21, 2010, the Complaint alleges that during the Class Period, the Individual Defendants engaged in a scheme to deceive the market and a course of conduct that artificially inflated TierOne's stock price and operated as a fraud or deceit on purchasers of TierOne stock by misrepresenting the Company's financial condition and business prospects. Once the Individual Defendants' misrepresentations and fraudulent conduct were disclosed to the market, TierOne's stock price reacted negatively as the artificial inflation was removed from it. As a result of their purchases of TierOne stock during the Class Period, Plaintiff and other members of the Class suffered economic loss.

On July 7, 2010, the company Defendant filed a suggestion of bankruptcy. The current motion for appointment of lead Plaintiff and approval of lead Counsel was being held in abeyance.

On October 12, 2010, United States Magistrate Judge Thomas D. Thalken granted the motion of The Valentino Group to be appointed as lead Plaintiff in this action, and affirmed The Valentino Group’s selection of The Rosen Law Firm, P.A. as lead Counsel for the litigation. On March 2, 2011, the lead Plaintiff filed a Consolidated Amended Complaint. The Defendants filed several motions to dismiss. The motions to dismiss were suspended, and the Plaintiffs were ordered to file an amended Complaint.

On August 24, 2011, the Second Amended Consolidated Complaint was filed.

On July 12, 2012, the Court issued an order granting Plaintiffs' unopposed motion for certification of class and for preliminary approval of settlement.

On November 8, 2012, the Court issued a Memorandum and Final Order of Approval approving the settlement and also approving attorneys' fees and expenses. The Court also entered Judgment in this case.