DENVER, April 11, 2011 (GLOBE NEWSWIRE) -- Dyer & Berens LLP (www.DyerBerens.com) today encouraged investors who purchased or acquired Wilshire Bancorp, Inc. (Nasdaq:WIBC) securities between March 15, 2010 and March 16, 2011, inclusive ("Class Period") to consider whether to seek a "lead plaintiff" appointment in the securities class action pending in the United States District Court for the Central District of California.
What actions may I take at this time? Class Period purchasers may, among other things: (i) do nothing at this time and remain in the class action as "absent class members;" (ii) seek to be appointed by the court as the "lead plaintiff" in the class action; or (iii) affirmatively opt-out of the class action and file individual lawsuits. Factors relevant to investors' decisions may include the size of their losses, the timing of their purchases and/or the amount of effort they are willing to expend to attempt to recover their losses.
For a free consultation regarding your legal options, please contact Jeffrey A. Berens, Esq., at (888) 300-3362 x302 or via email at jeff@dyerberens.com.
What are the allegations in the complaint? The complaint charges WIBC and certain of its current and former executive officers with violations of the federal securities laws. According to the complaint, defendants made misleading statements and failed to timely disclose material facts, including that the company: (a) had deficiencies in its underwriting, origination, and renewal processes and procedures; (b) was not adhering to its own underwriting policies; and (3) lacked adequate internal and financial controls.
About Dyer & Berens LLP. Dyer & Berens LLP has significant expertise in prosecuting both class and individual investor actions. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors. For more information about the firm, please go to www.DyerBerens.com.