|[April 19, 2012]
Enterprise Financial Services Investor Alert - The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of the Officers and Directors of Enterprise Financial Services, Corp. for Possible Breaches of Fiduciary Duties
DALLAS --(Business Wire)--
Former United States Securities and United States Securities and
Exchange Commission attorney Willie
Briscoe, founder of The
Briscoe Law Firm, PLLC, and the securities litigation firm of Powers
Taylor, LLP announce that the firms are investigating legal claims
against the officers and Board of Directors of Enterprise
Financial Services, Corp. ("Enterprise Financial" or "EFSC")
(Nasdaq: EFSC) related to potential securities violations between April
20, 2010 and January 25, 2012 (the "Class Period").
If you are an affected investor and you want to learn more about the
lawsuit or join the action, contact Patrick Powers at Powers Taylor,
LLP, tll free (877) 728-9607, via e-mail at email@example.com,
or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via
email at WBriscoe@TheBriscoeLawFirm.com.
There is no cost or fee to you.
In a recently filed federal class action complaint, Enterprise Financial
and certain of its officers and directors were charged with violating
the Securities Exchange Act of 1934. Specifically, the complaint alleges
that defendants' made false and/or misleading statements and/or failed
to disclose: (1) that Enterprise Financial was improperly recording
income on loans covered under loss share agreements with the FDIC; (2)
that, as a result, Enterprise Financial's income was overstated; (3)
that, as such, Enterprise Financial's financial results were not
prepared in accordance with Generally Accepted Accounting Principles;
(4) that Enterprise lacked adequate internal and financial controls; and
(5) that, as a result, Enterprise Financial's financial statements were
materially false and misleading at all relevant times. It is further
alleged that as a result of the foregoing, when Enterprise Financial
finally announced that the financial statements included in its Annual
Reports with the SEC (News - Alert) on Form 10-K for the 2010 fiscal year, and the
interim financial statements included in its Quarterly Reports filed
with the SEC on Form 10-Q for the first three fiscal quarters of 2010
and 2011, should not longer be relied upon, Enterprise Financial shares
plummeted 19% in a single day.
According to shareholder rights attorney Willie Briscoe, "The recent
revelations about Enterprise Financial's alleged misrepresentations
regarding its business and financial status are particularly troubling.
This has led our firms to investigate possible breaches of fiduciary
duties and other violations of state law by Enterprise Financial's
officers and directors. Based on our investigation, we are prepared to
institute litigation to preserve the company and the value of Enterprise
Financial's stock for all shareholders."
Briscoe Law Firm, PLLC is a full service business litigation,
commercial transaction, and public advocacy firm with more than 20 years
of experience in complex litigation and transactional matters.
Taylor, LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
[ Back To TMCnet.com's Homepage ]