CVB Financial Corp. Under Investor Investigation

If you are an investor in CVB Financial Corp. (NASDAQ:CVBF), and/or have information relating the investigation, you have certain options and you should contact the Shareholders Foundation, Inc.

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Company Name(s): 
Citizens Business Bank(CVB)
Affected Securities: 

An investigation on behalf of investors of CVB Financial Corp. (NASDAQ:CVBF) over potential state and federal securities laws violations by CVB Financial was announced.

CVB Financial Corp., located in Ontario, California, is a bank holding company of Citizens Business Bank (the Bank). On August 9, 2010, after the close of trading, CVB Financial Corp. disclosed that on July 26, 2010, it received a subpoena related to its lending practices from the Los Angeles office of the United States Securities & Exchange Commission (“SEC”). CVB Financial Corp stated in its second-quarter 10-Q filing that the focus of the SEC investigation was its loan underwriting guidelines, provisions for loan losses and loan risk grading. In addition, the subpoena requests information regarding presentations CVB Financial has given or conferences it has attended with analysts, brokers, investors or prospective investors. Then on August 10, 2010, CVB shares declined over 22% to close at $8 per share. CVB Financial Corp. shares (CVBF) are down from its 52weekHigh of $11.85 per share and traded during 2007 CVBF shares as high as $13.20 per share, and during 2008 as high as $15.01 per share.