Law Offices of Howard G. Smith announces that all purchasers of the securities of Enterprise Financial Services Corp (“Enterprise” or the “Company”) (NASDAQ:EFSC) between April 20, 2010 and January 25, 2012, inclusive (the “Class Period”), have until June 11, 2012, to move the Court to serve as Lead Plaintiff in the securities fraud class action lawsuit filed in the United States District Court for the Eastern District of Missouri.
Enterprise operates as the holding company for Enterprise Bank & Trust, which provides banking and wealth management services in the St. Louis, Kansas City and Phoenix metropolitan markets. The Complaint alleges that the defendants issued false and/or misleading statements and/or failed to disclose material adverse facts about Enterprise’s business, operations and prospects. Specifically, the Complaint alleges that defendants misrepresented and/or failed to disclose that: (1) the Company was improperly recording income on loans covered under loss share agreements with the Federal Deposit Insurance Corporation (“FDIC”); (2) as a result, the Company’s income was overstated; (3) as such, the Company’s financial results were not prepared in accordance with Generally Accepted Accounting Principles; (4) the Company lacked adequate internal and financial controls; and (5), as a result of the above, the Company’s financial statements were materially false and misleading at all relevant times.
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. If you purchased Enterprise securities between April 20, 2010 and January 25, 2012, you have certain rights, and have until June 11, 2012, to move for lead plaintiff status. To be a member of the class you need not take any action at this time, or may retain counsel of your choice. If you wish to discuss this action or have questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.