LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the July 5, 2016 deadline to file a lead plaintiff motion in the class action filed on behalf of a class (the “Class”) of investors who purchased First NBC Bank Holding Company (“First NBC Bank” or the “Company”) (NASDAQ: FNBC) securities between May 10, 2013 and April 8, 2016, inclusive (the “Class Period”). First NBC Bank investors have until July 5, 2016 to file a lead plaintiff motion.
According to the complaint, throughout the Class Period, the defendants issued false and misleading statements to investors and/or failed to disclose adverse facts regarding First NBC’s business and financial results, including that: (1) First NBC had improperly accounted for certain of its tax credit entities; (2) the carrying value of its investments in tax credits on its books was overstated; (3) these investments should have been marked as impaired and charges taken against them on a more timely basis; and (4) First NBC had a larger exposure to the oil and gas industry than it had disclosed and had failed to take adequate reserves against this growing exposure. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you purchased First NBC Bank shares, you may move the Court no later than July 5, 2016 to request appointment 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 firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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