Bank OZK (NASDAQ: OZK) Investor Securities Class Action Lawsuit 10/26/2018

If you purchased a significant amount of shares of Bank OZK (NASDAQ: OZK) between February 19, 2016 and October 18, 2018, and / or if you purchased any NASDAQ: OZK shares prior to February 2016 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: December 25, 2018. NASDAQ: OZK investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Bank OZK
Case Name: 
Bank OZK Shareholder Class Action Lawsuit 10/26/2018
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: OZK
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
10/26/2018
Class Period Begin: 
02/19/2016
Class Period End: 
10/18/2018
Court of Filing: 
U.S. District Court for the Eastern District of Arkansas
Deadline To File for Lead: 
12/25/2018
Summary: 

An investor in shares of Bank OZK (NASDAQ: OZK) filed a lawsuit in the U.S. District Court for the Eastern District of Arkansas over alleged violations of Federal Securities Laws by Bank OZK in connection with certain allegedly false and misleading statements made between February 19, 2016 and October 18, 2018.

Little Rock, AZ based Bank OZK provides a range of retail and commercial banking services to businesses, individuals, and non-profit and governmental entities. Bank OZK reported that its annual Total Revenue rose from $679.3 million in 2016 to $913.19 million in 2017 and that its Net Income increased from $269.97 million in 2016 to $421.89 million in 2017.

On October 19, 2018, Bank OZK announced its third-quarter earnings that missed expectations, including charge-offs of $45.5 million on two Real Estate Specialties Group credits for unrelated projects in South and North Carolina. Shares of Bank OZK (NASDAQ: OZK) declined from over $40 per share in September 2018 to as low as $24,21 per share on October 24, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Bank OZK (NASDAQ: OZK) common shares between February 19, 2016 and October 18, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 19, 2016 and October 18, 2018, the Defendants failed to disclose to investors that the Company lacked adequate internal controls to assess credit risk, that, as a result, certain of the Company’s loans posed an increased risk of loss, that certain substandard loans were reasonably likely to lead to charge-offs, and 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.