LOS ANGELES, July 31, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Cadence Bancorporation (“Cadence” or “the Company”) (NYSE: CADE) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Cadence announced on July 22, 2019, that the Company’s financial results for the second quarter of 2019 were “negatively impacted by higher credit costs including net charge-offs of $18.6 million and loan provisions of $28.9 million.” Based on these issues, Cadence missed its second-quarter earnings expectations. Based on this news, shares of Cadence fell by more than 22% on the same day.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
Cell: 424-303-1964
info@schallfirm.com