| Company: | Franklin Bank Corp. |
| Ticker Symbol: | NASD: FBTX |
| Class Period: | October 29, 2007 to May 1, 2008 |
| Date Filed: | June-6-08 |
| Lead Plaintiff Deadline: | August-5-08 |
| Court: | Southern District, TX |
| Allegations: |
A class action lawsuit has been filed on behalf of purchasers of Franklin Bank Corp. (the "Company") (NASDAQ: FBTX) common or preferred stock during the period from October 29, 2007 through May 1, 2008 (the "Class Period"). If you wish to serve as lead plaintiff, you must move the Court no later than August 5, 2008.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER.
The complaint alleges that defendants engaged in a variety of accounting improprieties, including their admitted failure to charge off uncollectible loans and to mark Franklin's loans to market. As a result of the misconduct alleged, defendants understated the Company's delinquent, nonperforming, and uncollectible loans and thereby misrepresented Franklin's financial condition and results, including its overall and per-share profit of its residential mortgage loan portfolio.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER.
The complaint alleges that defendants engaged in a variety of accounting improprieties, including their admitted failure to charge off uncollectible loans and to mark Franklin's loans to market. As a result of the misconduct alleged, defendants understated the Company's delinquent, nonperforming, and uncollectible loans and thereby misrepresented Franklin's financial condition and results, including its overall and per-share profit of its residential mortgage loan portfolio.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
