HORIZON BANCORP INVESTOR ALERT: Kaplan Fox & Kilsheimer LLP Notifies Horizon Bancorp Investors of a Class Action Lawsuit and Upcoming Deadline


NEW YORK, May 01, 2023 (GLOBE NEWSWIRE) --  Kaplan Fox & Kilsheimer LLP reminds investors that a complaint has been filed on behalf of investors who purchased or otherwise acquired the securities of Horizon Bancorp, Inc. (“Horizon” or the “Company”) (NASDAQ: HBNC) between March 9, 2022 and March 10, 2023, inclusive (the “Class Period”). Click Here to Join Investigation.

If you acquired Horizon securities during the Class Period and would like to discuss this case, please click here. You may also contact us by emailing pmayer@kaplanfox.com or calling (646) 315-9003.

If you are a member of the proposed Class, you may move the court no later than June 19, 2023 to serve as a lead plaintiff for the purported class.  If you have losses, we encourage you to contact us to learn more about the lead plaintiff process.

On March 10, 2023, after the market closed, Horizon filed a notice of the Company’s inability to timely file its Annual Report on Form 10-K for the year ended December 31, 2022 with the SEC, announcing receipt of a notice from NASDAQ as a result of failing to timely file its annual report, as well as disclosing that it had identified material weaknesses in its internal controls over financial reporting.

On this news, Horizon’s stock price fell $1.43 per share, or 10.96%, to close at $11.62 per share on March 13, 2023.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the Company maintained deficient internal accounting controls relating to its classification of certain loan balances and securities; (ii) as a result of the foregoing deficiencies, throughout 2022 the Company issued quarterly financial statements containing errors that would require subsequent revision; (iii) restatement of the foregoing financial statements would hinder the Company's ability to timely file its annual report for 2022; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.

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If you have any questions about this Notice, your rights, or your interests, please contact:

Pamela Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
E-mail: pmayer@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax:  (415) 772-4707
E-mail: lking@kaplanfox.com