Enterprise Financial Services Corp. EFSC Securities Stock Fraud

Company:	Enterprise Financial Services Corp.
Ticker Symbol:	EFSC
Class Period:	Apr-20-10 to Jan-25-12
Date Filed:	Apr-10-12
Lead Plaintiff Deadline:	Jun-9-12
Court:	Eastern District of Missouri
Allegations:

New York, NY: A securities class action lawsuit was filed in the United States District Court for the Eastern District of Missouri against Enterprise Financial Services Corp. ("Enterprise" or the "Company") (NASDAQ: EFSC), Case No. 12-cv-00637, on behalf of purchasers of Enterprise stock between April 20, 2010 and January 25, 2012 (the "Class Period").

The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose material adverse facts about Enterprise's business, operations and prospects. Specifically, defendants misrepresented and/or failed to disclose that: (i) the Company was improperly recording income on loans covered under loss share agreements with the Federal Deposit Insurance Corporation; (ii) this caused the Company's income to be overstated; (iii) the Company's financial results were not prepared in accordance with Generally Accepted Accounting Principles; (iv) the Company lacked adequate internal and financial controls; and (v), as a result, the Company's financial statements were materially false and misleading during the class period.

On January 25, 2012, the Company disclosed that the information in its Form 10-K for 2010 and its Forms 10-Q for the first three quarters of 2010 and 2011, should no longer be relied upon. As a result of this news, shares of Enterprise declined $2.92 per share, nearly 19%, to close on January 26, 2012, at $12.55 per share, on heavy volume.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Enterprise Financial Services Corp. EFSC Securities Fraud Legal Help

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Published on Apr-11-12