An investigation on behalf of investors in NASDAQ:IBKC shares over potential breaches of fiduciary duty by certain officers and directors of IBERIABANK Corporation was announced and current long-term NASDAQ:IBKC stockholders should contact the Shareholders Foundation at firstname.lastname@example.org
San Diego, CA -- (SBWIRE) -- 03/26/2013 -- An announced by IBERIABANK Corporation concerning a miscalculation of certain activity prompted an investigation on behalf of current long term investors in NASDAQ:IBKC shares concerning whether certain IBERIABANK officers and directors possibly breached their fiduciary duties.
Investors who are current long term stockholders of shares of IBERIABANK Corporation (NASDAQ:IBKC) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain IBERIABANK and directors breached their fiduciary duties and caused damage to the company and its shareholders by failing to implement adequate internal controls.
On March 1, 2013, IBERIABANK Corporation disclosed that on February 27, 2013, its management and the Audit Committee of its Board of Directors, after discussions with Ernst & Young LLP, IBERIABANK’s independent registered public accounting firm, concluded that IBERIABANK Corporation miscalculated certain activity between its operating and investing cash flows in the consolidated statements of cash flows for the years ended December 31, 2010 and December 31, 2011, and in previously-filed interim financial statements on Form 10-Q for the first, second and third quarters of 2012 and 2011.
IBERIABANK Corporation said that as a result of the correction, its previously-filed interim financial statements for the first, second and third quarters of 2012 and 2011, and the consolidated financial statements and related reports of the independent registered public accounting firm on the financial statements included in the Company’s Form 10-K for the years ended December 31, 2010 and December 31, 2011 should no longer be relied upon.
Shares of IBERIABANK Corporation (NASDAQ:IBKC) closed on March 25, 2013, at $49.86 per share.
Those who are current long term stockholders of shares of IBERIABANK Corporation (NASDAQ:IBKC), have certain options and should contact the Shareholders Foundation
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego