NEW YORK, May 9, 2016 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of First NBC Bank Holding Company ("First NBC" or the "Company") (NASDAQ: FNBC). Such investors are advised to contact Peretz Bronstein or his investor relations analyst Yael Hurwitz at firstname.lastname@example.org or 212-697-6484.
The investigation concerns whether First NBC and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On February 1, 2016, First NBC released its Q4 and full-year 2015 financial results, revealing its below forecasted earnings and disclosing First NBC's exposure to the oil and gas industry. Following this news, First NBC dropped $3.20 per share, or 10.53%, to close at $27.20 on February 1, 2016.
On March 16, 2016, First NBC reported that it had "identified errors in its accounting for its Federal and State Historic Rehabilitation tax credit entities and is evaluating the accounting for certain other matters" and that its preliminary earnings report for 2015 would need to be adjusted. Following this news, NBC dropped $5.33 per share, or $21.83%, to close at $19.09 on March 16, 2016.
On April 8, 2016, First NBC said that its financial statements for the years 2011 through 2014 and for each of the interim periods within the years 2013 through 2015 were incorrect and should no longer be relied upon. First NBC also said that management's statement regarding internal control's success over financial reporting as of December 31, 2013 and 2014 should no longer be relied upon. Following this news, NBC dropped $0.47 per share, or 2.46%, to close at $18.65 on April 11, 2016.
If you are aware of any facts relating to this investigation, or purchased shares of First NBC, you can assist this investigation by visiting the firm's site: http://www.bgandg.com/#!fnbc/mdguq. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484 or via email email@example.com. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
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