SAN DIEGO & NEW ORLEANS--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of First NBC Bank Holding Company (NASDAQGS: FNBC) breached their fiduciary duties to shareholders. First NBC operates as the bank holding company for First NBC Bank that provides a range of financial services for businesses, institutions, and individuals.
First NBC Bank Enters Into Consent Order
On November 17, 2016, First NBC Bank announced that it has entered into a Consent Order with the Federal Deposit Insurance Corporation and the Louisiana Office of Financial Institutions. Under the Consent Order, the bank has agreed, among other things, to review the bank's management, its loan review and problem loan identification processes, and its loan portfolio policy and procedures. First NBC also announced that it has received a notification from the Nasdaq Stock Market informing the company that it was not in compliance with Nasdaq Listing Rule 5250(c)(1) because it had not timely filed its quarterly report on Form 10-Q for the period ended September 30, 2016. First NBC has until January 17, 2017 to submit a plan to regain compliance with its reporting obligations.
View this press release on the law firm's Shareholder Rights Blog:
First NBC Bank Holding Company Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, DDonahue@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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