id: 235, Created by Stan Vick, Scout
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E. D. ArkansasCourt
19 Feb 2016Class period Start
18 Oct 2018Class period End
06 Oct 2022Claim deadline
Strathclyde Pension Fund v. Bank OZK, et al.
"The Complaint alleged that Defendants made materially false and misleading statements in and omissions from OZK’s public filings and on public conference calls with financial analysts concerning OZK’s asset and credit quality. While OZK reported credit metrics and related ratios that demonstrated the “pristine” credit quality of its loan portfolio, Defendants allegedly concealed two nonperforming commercial real estate loans, identified as the “South Carolina Loan” and the “North Carolina Loan.” The Complaint further alleged that as a result of Defendants’ misrepresentations and omissions, the price of OZK common stock was artificially inflated during the Class Period, and that when OZK announced at the end of the Class Period that it had charged off the South Carolina and North Carolina Loans, the price of OZK stock declined, thereby damaging the Class Members."
Strathclyde Pension Fund
Robbins Geller Rudman & Dowd LLP
Hon. D.P. Marshall Jr.
Gilardi & Co LLC
Court hearing date
19 September 2022
+$45,000,000Total Settlement Amount