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Institutional investor Initiates Class Action Against Franklin Bank - Quick Facts

Coughlin Stoia Geller Rudman & Robbins LLP said it filed a class action lawsuit against Franklin Bank Corp. (FBTX) on behalf of an institutional investor representing purchasers of Franklin's common stock from April 26, 2007 to May 1, 2008.

The complaint alleged that Franklin and some of its officers and directors have violated the Securities Exchange Act by issuing materially false and misleading statements regarding the company's business and financial results during the Class Period. Because of these false statements, Franklin's stock traded at artificially inflated prices during the period.

by RTT Staff Writer

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