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SAN FRANCISCO, Aug. 20, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds investors in Cadence Bancorp. (NYSE: CADE) of the firm’s investigation of possible disclosure violations related to the Company’s deteriorating asset quality.
If you invested in Cadence Bancorp. before July 22, 2019 and suffered losses or have information that may assist the firm’s investigation contact Hagens Berman:
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
The investigation centers on whether Cadence Bancorp. and its senior management misrepresented the Company’s underwriting practices and credit quality and risk profile of its loan portfolios.
More specifically, on July 22, 2019, the Company delivered disappointing second-quarter earnings due to higher credit costs, including net charge-offs of $18.6 million and loan provisions of $28.9 million.
The “disappointing credit results” shocked the market, as shares of Cadence Bancorp. tumbled 19% over a single trading day.
“We’re focused on investors’ losses and the extent to which the Company and current or former senior executives may have misled investors about the bank’s loan quality and loan loss reserves,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Cadence Bancorp. should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email CADE@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000