NEW YORK, NY / ACCESSWIRE / July 29, 2019 / Pomerantz LLP is investigating claims on behalf of investors of Cadence Bancorporation (“Cadence” or the “Company”) (NYSE: CADE). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Cadence and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On July 22, 2019, Cadence announced that the Company’s financial and operating results for the second quarter of 2019 were “negatively impacted by higher credit costs including net charge-offs of $18.6 million and loan provisions of $28.9 million,” which caused Cadence to miss second quarter earnings expectations.
On this news, Cadence’s stock price fell $3.75 per share, or 19.12%, to close at $15.86 per share on July 22, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
SOURCE: Pomerantz LLP
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