Gorby, Peters & Associates, P.C. and Berger & Montague, P.C. Client Files Class Action Against Former Directors of Haven Trust Bancorp, Inc.

Jan 04, 2010, 12:38 ET from Berger & Montague, P.C.

PHILADELPHIA, Jan. 4 /PRNewswire-USNewswire/ -- A client of the law firms of Gorby, Peters & Associates, P.C. and Berger & Montague, P.C. has filed a class action in the U.S. District Court for the Northern District of Georgia, Atlanta Division on behalf of all purchasers of Haven Trust Bancorp, Inc. ("Haven Trust" or the "Company") securities between December 31, 2006 and December 12, 2008, inclusive (the "Class Period"). Defendants are R.C. Patel, Mukesh C. Patel, Brig M. Kapool, Mukund R. Patel, Narenda D. Patel and Dhiru G. Patel, former directors of Haven Trust.

Investors who purchased securities during the Class Period may move the Court to appoint them as lead plaintiff, no later than March 5, 2010. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Investors in Haven Trust who wish to discuss this action or the lead plaintiff selection process may contact Berger & Montague, P.C., toll free at 1-800-424-6690, or by e-mail at investorprotect@bm.net. A copy of the class action complaint can be viewed on Berger & Montague, P.C.'s website at www.bergermontague.com or may be requested from the Court: the case is Mukta Patel v. R.C. Patel, et al., Case No. 1:09-CV-3684 (N.D. Ga.).

Haven Trust was a bank holding company that owned and operated Haven Trust Bank located in Duluth, Georgia. The complaint alleges that former directors of Haven Trust violated the federal securities laws and Georgia state law by omitting to disclose to investors that its banking subsidiary engaged in certain improper banking practices which were identified by bank examiners prior to and during the Class Period. Due to significant deterioration of the bank's condition, among other things, the banking subsidiary, Haven Trust Bank, sought receivership with the FDIC on December 12, 2009 and the holding company, Haven Trust, filed for bankruptcy protection on February 23, 2009, damaging investors.

For more information about this case, please contact:

Lawrence J. Lederer, Esq.


1622 Locust Street

Philadelphia, PA 19103

Telephone: 1-800-424-6690 or 215-875-3000

Email: llederer@bm.net

Berger & Montague, founded in 1970, is a pioneer in class action litigation. The firm's approximately 70 attorneys concentrate their practice in complex litigation including securities fraud and corporate governance, antitrust, civil and human rights, consumer protection and environmental and mass torts, and have recovered several billion dollars for consumers and investors, and have developed a deep familiarity with financial fraud.

Gorby, Peters & Associates is a 30 year old firm of seasoned courtroom attorneys which engages in litigation and represents corporations in Atlanta, Georgia.

SOURCE Berger & Montague, P.C.