NEW YORK, May 21, 2010 (GLOBE NEWSWIRE) -- The Brualdi Law Firm, P.C. announces that a lawsuit has been commenced in the United States District Court for the District of Nebraska on behalf of purchasers of TierOne Corporation (Pink Sheets:TONE) ("TierOne" or the "Company") stock during the period between August 8, 2008 and May 14, 2010, inclusive (the "Class Period"), for violations of the federal securities laws.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased TierOne common stock during the Class Period and wish to move the court for appointment of lead plaintiff, you must do so by July 19, 2010. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You do not need to seek appointment as a lead plaintiff in order to share in any recovery.
To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact David Titus at The Brualdi Law Firm, P.C. 29 Broadway, Suite 2400, New York, New York 10006, by telephone toll free at (877) 495-1187 or (212) 952-0602, by email to dtitus@brualdilawfirm.com or visit our website at http://www.brualdilawfirm.com.
The complaint alleges that during the Class Period, the Individual Defendants engaged in a scheme to deceive the market and a course of conduct that artificially inflated TierOne's stock price and operated as a fraud or deceit on purchasers of TierOne stock by misrepresenting the Company's financial condition and business prospects. Once the Individual Defendants' misrepresentations and fraudulent conduct were disclosed to the market, TierOne's stock price reacted negatively as the artificial inflation was removed from it. As a result of their purchases of TierOne stock during the Class Period, Plaintiff and other members of the Class suffered economic loss.
The Brualdi Law Firm, P.C. is a New York, New York-based law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, with a particular emphasis on sophisticated class action litigation in the securities and antitrust areas, as well as corporate derivative suits. More information about the firm is available through its website, www.brualdilawfirm.com, and upon request from the firm.
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