On or around 10/26/2018 (Ongoing date of last review)
Filing Date: October 26, 2018
According to the Complaint, Bank OZK is a retail and commercial bank with several subsidiaries focused on investment securities, development of real estate, and ownership of private aircraft. It was known as Bank of the Ozarks until July 16, 2018.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company lacked adequate internal controls to assess credit risk; (2) that, as a result, certain of the Company’s loans posed an increased risk of loss; (3) that certain substandard loans were reasonably likely to lead to charge-offs; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Company & Securities Information
Defendant: Bank OZK
Industry: Regional Banks
Headquarters: United States
Ticker Symbol: OZK
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Jordan Colbert, et al. v. Bank OZK, et al.
COURT: E.D. Arkansas
DOCKET #: 18-CV-00793
JUDGE: Hon. James M. Moody Jr.
DATE FILED: 10/26/2018
CLASS PERIOD START: 02/19/2016
CLASS PERIOD END: 10/18/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Glancy Prongay & Murray LLP 1925 Century Park East, Suite 2100 , Glancy Prongay & Murray LLP, CA 90067 (310) 201-9150 (310) 432-1495 ·