Invested in
Bank OZK?
Attention Bank OZK shareholders: contact investor lawyers for a free evaluation of your potential claims for compensation today.
- Did you invest in or otherwise acquired shares in Bank OZK (NASDAQ: OZK) formerly known as Bank of the Ozarks in or before February 2016 and still hold them?
- Are you concerned about the OZK stock price decline following claims alleging lack of appropriate internal controls to assess credit risk, and the subsequent $45 million payment by the company to settle these claims?
- Would you like your potential options for compensation and/or redress to be reviewed by an experienced team of investor lawyers?
Request a free case evaluation of your potential claims for compensation today, via email at arosca@rscounsel.law, through the contact form on this page, or by calling 888-998-0530.
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Free Case Evaluation
The Bank OZK Class Action Investigation page is the resource for investors who bought Bank OZK fka Bank of the Ozarks shares in or before February 2016 and would like to evaluate compensation claims.
- Free Case Evaluation
- No Fees if No Recovery
- Contact Us Today
We can also do a Zoom call to discuss your matter.
Posted April 27, 2023
Bank OZK Investigation
Securities attorneys Alan Rosca, Paul Scarlato, and Kathryn Weidner have been investigating alleged securities violations, corporate misconduct, and misrepresentations, as well as questionable business practices involving Bank OZK, and have identified potential areas of concern for Bank OZK investors.
What Bank OZK Investors May Do
OZK investors interested in evaluating potential options to seek compensation and/or pursue claims related to their Bank OZK investment may contact investor rights attorneys Alan Rosca, Paul Scarlato, or Kathryn Weidner. Claims that are not timely pursued may expire or otherwise be lost, generally speaking.
Get in Touch with an Experienced Team of Investor Attorneys
Attorneys Rosca, Scarlato, and Weidner have extensive experience in seeking compensation related to investor harm and pursuing claims arising out of alleged violations of securities law and/or corporate misconduct, and are currently evaluating potential claims on behalf of investors in Bank OZK.
They typically work on a contingent fee basis, do not require any money down from their clients, advance case expenses, and only get paid for their fees and expenses if and when successful, following review and approval by the Court of any fee application.
Concerned OZK stock investors may contact attorneys Alan Rosca, Paul Scarlato, or Kathryn Weidner to discuss their potential options toll free at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
Potential Compensation Claims
Has Bank OZK Been Accused of Misconduct?
Bank OZK, its Chief Executive Officer George Gleason, and its former Chief Financial Officer and Chief Accounting Officer, Gregory McKinney, have been the subject of a class action lawsuit, filed in the United States District Court for the Eastern District of Arkansas in late 2018.
Bank OZK and its control persons were accused in that class action lawsuit of, among others, violating securities laws by allegedly making materially false and/or misleading statements and failing to disclose material adverse facts that allegedly caused Bank OZK’s stock to trade at artificially inflated prices.
The complaint alleged that Bank OZK’s credit quality of its loan portfolio was misrepresented as “pristine,” while unbeknownst to investors two commercial real estate loans reportedly identified as the “Carolina Loans” were allegedly nonperforming, with one of them being in “chronic default” since 2014.
In March 2022, Greg McKinney announced his departure from Bank OZK after spending close to two decades with the company. A month later the parties to the class action lawsuit agreed to settle the above-mentioned allegations for $45 million, without admitting or conceding “any fault, liability, or wrongdoing by the Bank or any other defendant”.
The final approval of the settlement was granted in September 2022, and according to the most recent Status Report on claims administration dated March 2023, the recognized losses of the submitted claims declared valid so far amount to $900 million.
Do Bank OZK Shareholders Have Claims for Compensation, Corporate Reform and/or Other Redress?
Investor rights attorneys Alan Rosca, Paul Scarlato, and Kathryn Weidner at Rosca Scarlato are investigating potential options and are evaluating potential claims for compensation on behalf of OZK shareholders. They have decades of combined experience representing victims of corporate or financial misconduct.
If you are a Bank OZK investor concerned about your investment and/or its value, you may contact attorneys Alan Rosca, Paul Scarlato, or Kathryn Weidner to learn more about your rights and for an evaluation of your potential claims, or to provide useful information.
All consultations are free. The Rosca Scarlato attorneys typically take cases like this on a contingency fee basis, advance all case costs, and only get paid for their fees and expenses if and when they are successful, following review and approval by the Court of any fee application.
To reach attorney Alan Rosca or his colleagues, Bank OZK investors may call 888-998-0530, email arosca@rscounsel.law, or leave a message through the contact form on this webpage.
The general considerations on this page are for informational purposes only and do not constitute legal advice. Such legal advice can only be offered once the attorneys discuss each investor’s situation, learn of the relevant facts and can tailor any advice to that investor’s facts. The Bank OZK Class Action Investigation page is not affiliated with Bank OZK. There has not been an adjudication on the merits of the cases referenced in this blog post, as of the date of the posting.
Contact info:
Rosca Scarlato LLC – 216-946-7070 / 888-998-0530.
Alan Rosca – arosca@rscounsel.law
Paul Scarlato – pscarlato@rscounsel.law
Kathryn Weidner – kweidner@rscounsel.law
Recent Investigations
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DISCLAIMER
In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow matters about which we report, and/or to publish subsequent updates regarding various developments that may occur in such matters. Readers are encouraged to conduct their own research regarding any such matters and any developments that may or may not have occurred in such matters. Also, the Brokercheck report linked to some of our blogs is the up-to-date version as of the date of accessing by the reader. The information in our blogs is current as of the date of the drafting of the blog, and given that sometimes certain past complaints may no longer be listed in newer Brokercheck reports, some of the events referenced in some of our blogs may later on be removed from newer Brokercheck reports. Visitors may check the most recent version of each brokercheck report at www.finra.org, and may contact FINRA for the earlier version of the Brokercheck report upon which various blogs may be based.