United Western Bancorp Inc (OTC: UWBK) Investor Securities Class Action Lawsuit 03/11/2011

If you purchased shares of United Western Bancorp Inc (OTC: UWBK), you might have certain options and should contact the Shareholders Foundation, Inc.

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Company Name(s): 
United Western Bancorp
Case Name: 
United Western Bancorp Shareholder Class Action Lawsuit 03/11/2011
Case Status: 
Lawsuit Filed
Case Status: 
Case Dismissed
Affected Securities
OTC: UWBK
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
03/11/2011
Class Period Begin: 
09/17/2009
Class Period End: 
03/11/2011
Class Period Begin: 
05/05/2008
Class Period End: 
05/04/2010
Court of Filing: 
U.S. District Court for the District of Colorado
Deadline To File for Lead: 
05/10/2011
Case Dismissed: 
12/19/2012
Summary: 

August 1, 2014 - The U.S. Court of Appeals for the Tenth Circuit affirmed the district court's December 19, 2012 decision.

January 18, 2013 - The lead plaintiffs filed a notice of appeal.

December 19, 2012 - The court granted defendants' motions to dismiss and dismissed all claims with prejudice.

September 27, 2011 - Another defendant filed a motion to dismiss.

September 26, 2011 - Defendants filed motions to dismiss.

August 11, 2011 - The lead plaintiffs filed an amended complaint on behalf of investors who purchased UWBK common shares between May 5, 2008 and May 4, 2010. The lead plaintiffs allege that the defendants violated the Securities Act of 1933 and the Securities Exchange Act of 1934 by issuing false and misleading statements between May 5, 2008 and May 4, 2010.

June 16, 2011 - Lead plaintiffs and lead counsel were appointed.

May 17, 2011 - Lead plaintiff motion was filed.

March 11, 2011 - An investor in shares of United Western Bancorp Inc (OTC: UWBK) filed a lawsuit in the U.S. District Court for the District of Colorado against United Western Bancorp Inc over alleged violations of Federal Securities Laws in connection with allegedly false and misleading statements made between September 17, 2009 and March 11, 2011.

According to the complaint the plaintiff alleges on behalf of those who purchased or acquired United Western Bancorp Inc (OTC: UWBK) common stock pursuant or traceable to the registration statement and prospectus issued in connection with the United Western Bancorp Inc's September 17, 2009 offering that on September 17, 2009, pursuant to a false and misleading registration statement and prospectus, defendants consummated an $80 million stock offering to the public and certain true facts which were misrepresented and omitted.

United Western Bancorp Inc’s 12 months Total Revenue went from $11.66 million in 2006 to a Net Loss of $42.05 million in 2009. For the first three quarters in 2010 United Western Bancorp Inc reported a combined nine months Net Loss of $84.48 million.