NEW YORK, April 21, 2023 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a class action lawsuit against Horizon Bancorp, Inc. (NASDAQ: HBNC) (“Horizon” or the “Company”) for violations of the federal securities laws on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Horizon securities between March 9, 2022 and March 10, 2023, both dates inclusive (the “Class Period”).

On April 20, 2023, a Complaint was filed against Horizon and certain of its officers (collectively the “Defendants”) alleging that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company maintained deficient internal accounting controls relating to its classification of certain loan balances and securities; (ii) as a result of the foregoing deficiencies, throughout 2022 the Company issued quarterly financial statements containing errors that would require subsequent revision; (iii) restatement of the foregoing financial statements would hinder the Company’s ability to timely file its annual report for 2022; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

When investors learned the truth, Horizon’s common stock declined precipitously, injuring investors.

If you suffered a loss of more than $100,000 in Horizon’s securities, and wish to participate, or learn more, please contact our attorneys at (914) 733-7234 or via email at investigations@lowey.com. You can also read more about the lawsuit here.

Any investor who wishes to serve as Lead Plaintiff must act before June 19, 2023.

About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.

Contact:
Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7234
Email: investigations@lowey.com 

SOURCE: Lowey Dannenberg P.C.