Thieler Law Corp advises investors with losses exceeding $100,000 of the December 27, 2016 lead plaintiff deadline in a class action lawsuit filed against Opus Bank (NASDAQ:OPB) (“Opus” or “the Company”). The suit is pending in the U.S. District Court for the Central District of California and investors, who purchased Opus Bank securities between July 28, 2014, and October 17, 2016, have until December 27, 2016 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Opus Bank securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that certain of the Company’s loans were of poor quality; that Opus Bank was over-representing the quality of the loans to the public; that, as such, the Company failed to properly account for the loans in violation of Generally Accepted Accounting Principles (“GAAP”); that, as a result, Opus Bank would be forced to recognize large charge-offs associated with the loans; that the Company lacked adequate internal controls over accounting and financial reporting; and that, as a result of the above, Defendants’ positive statements about Opus’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On October 17, 2016, the Company revealed its earnings for the third quarter 2016 and disclosed that Opus Bank recognized charge-offs on eight loan relationships through the allowance for loan losses at September 30, 2016.

Following this news, shares of Opus Bank dropped in value.

If you were negatively impacted by your investment in Opus Bank securities between July 28, 2014, and October 17, 2016 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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