Law Offices of Howard G. Smith announces that it is investigating potential claims against UCBH Holdings, Inc. (“UCBH” or the “Company”) (NASDAQ:UCBH), concerning possible securities violations in relation to public statements made by the Company between April 24, 2008 and May 12, 2009.
The investigation focuses on allegations that statements made by the Company during that period regarding UCBH’s business, operations and prospects, were false and misleading. Specifically, the investigation concerns the Company’s May 12, 2009, disclosure that UCBH was delaying the filing of its Quarterly Report with the Securities and Exchange Commission for the 2009 fiscal first quarter and, as a result of an ongoing assessment of the adequacy of the Company’s allowance for loan losses, additional general reserve provisions to its allowance for loan losses were possible, and that any additional provisioning would further increase the Company's net loss for the quarter ended March 31, 2009. On this news, shares of UCBH declined more than 20%, to close on May 13, 2009, at $1.66 per share on heavy volume.
If you purchased UCBH common stock between April 24, 2008 and May 12, 2009, or if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com.
Contacts:
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
