NEW YORK, May 18, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of First NBC Bank Holding Company ("First NBC Bank" or the "Company") (NASDAQ: FNBC). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether First NBC Bank and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On March 16, 2016, First NBC Bank disclosed that it would be unable 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 disclosed that its preliminary earnings release previously issued on February 1, 2016 should not be relied upon pending the filing of its Form 10-K.
On this news, shares of First NBC Bank fell $5.33 per share, or more than 21%, to close at $19.09 per share on March 16, 2016.
On May 17, 2016, after the market closed, First NBC Bank announced that it had received
, a notification from the Nasdaq Stock Market ("Nasdaq") informing First NBC that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) because it had not timely filed its Quarterly Report on Form 10-Q for the period ended March 31, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
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SOURCE Pomerantz LLP