SAN DIEGO, April 10, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP is investigating whether certain officers and directors of First NBC Bank Holding Company (NASDAQ: FNBC) violated state or federal laws.
On March 16, 2016, First NBC Bank disclosed that it would not be able to timely file its Form 10-K for the year ended December 31, 2015 due to errors in its accounting for its Federal and State Historic Rehabilitation tax credit entities and evaluation of its accounting for certain other matters. First NBC Bank also divulged that its preliminary earnings release previously issued on February 1, 2016 should not be relied upon pending the filing of Form 10-K. On this news, shares of First NBC Bank fell $5.33 per share or over 21% from its previous closing price to close at $19.09 per share on March 16, 2016.
Then on April 8, 2016, First NBC Bank announced that the consolidated financial statements as of and for the years ended December 31, 2014, 2013, 2012 and 2011 as well as each of the interim periods within the years ended December 31, 2015, 2014 and 2013, need to be restated and should no longer be relied upon. The Company's shares have fallen from $42.47 on Dec. 1 to close at $19.12 on April 8, 2016.
If you are a First NBC Bank shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (email@example.com) at 619-814-4471. If you email, please include your phone number.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP