Glancy Prongay & Murray LLP Reminds Investors of the Deadline in the Class Action Lawsuit Against Bank OZK
Glancy Prongay & Murray LLP (“GPM”) reminds investors of the December 26, 2018 deadline to file a lead
plaintiff motion in the class action filed on behalf of investors that purchased Bank OZK (“Bank OZK” or the “Company”) (NASDAQ:
OZK) securities between February 19, 2016 and October 18, 2018, inclusive (the “Class Period”). Bank OZK
investors have until December 26, 2018 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here
to participate.
On October 18, 2018, the Company reported that it had “incurred combined charge-offs of $45.5 million on two Real Estate
Specialties Group credits” that had previously been classified as substandard. On this news, the Company’s share price fell $9.33
per share, more than 26%, to close at $25.52 per share on October 19, 2018, thereby injuring investors.
The complaint filed in this class action 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.
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If you purchased shares of Bank OZK, you may move the Court no later than December 26, 2018 to ask the Court to appoint
you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice
or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have
any questions concerning this announcement or your rights or interests with respect to these matters, please contact
Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at
888-773-9224, by email to shareholders@glancylaw.com, or visit our
website at
www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com
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