CINCINNATI, Aug. 11, 2010 (GLOBE NEWSWIRE) -- Attorney Advertising -- The law firm of Statman, Harris & Eyrich, LLC, which has significant experience in class actions, announced today that they are investigating CVB Financial Corporation ("CVB" or the "Company") (Nasdaq:CVBF) for potential violations of state and federal law by issuing false and misleading statements to its shareholders.
On August 10, 2010, the Company announced that it received a subpoena from the Securities & Exchange Commission requesting information about CVB's loan underwriting guidelines, its allowance for credit losses, and provisions for credit losses. The subpoena also requested information regarding presentations CVB had given or conferences it had attended with analysts, brokers, investors or prospective investors.
Shares of CVB plunged 22% on the news, closing at $8.00 per share on August 10, 2010, down from $10.30 per share on August 9, 2010.
Shareholders who purchased CVB common stock are encouraged to contact attorney Elizabeth Hutton for further information without any obligation or cost to you at (513) 345-8181, Ext. 3095, or by email at ehutton@statmanharris.com.
Statman, Harris & Eyrich, LLC has offices in Chicago, Illinois; Cincinnati, Ohio; Dayton, Ohio; and Sarasota, Florida. www.statmanharris.com