Abraham, Fruchter & Twersky, LLP Announces
Class Action Lawsuit Against CVB Financial
August 31, 2010 06:07 PM Eastern Daylight Time
NEW YORK--(EON: Enhanced Online News)--Abraham, Fruchter & Twersky, LLP announces that a lawsuit has
been filed on behalf of purchasers of CVB Financial Corp. (“CVB” or the “Company”) (NasdaqGS: CVBF) who
purchased or otherwise acquired CVB securities between October 21, 2009 and August 9, 2010 (the “Class
For more information regarding this lawsuit, please contact Jack G. Fruchter of Abraham, Fruchter & Twersky, LLP
toll free at (800) 440-8986, or by email at email@example.com
CVB is a bank holding company incorporated and headquartered in Ontario, California. CVB’s principal business is
to serve as a holding company for the Citizen’s Business Bank (the “Bank”) and other banking related subsidiaries.
The Bank offers a wide range of deposit instruments and lending products, including commercial products marketed
towards small- and medium-sized businesses.
As alleged in the complaint, CVB and defendants made a series of materially false and misleading statements related
to the Company’s business and operations throughout the Class Period. On August 9, 2010, CVB disclosed that it
had received an investigation subpoena from the Los Angeles office of the Securities & Exchange Commission
requesting information related to its lending practices and loan accounting, including information regarding CVB’s
loan underwriting guidelines, its allowance for credit losses and its methodologies for loan grading and calculating
loan loss allowances. On this news, shares of CVB fell 22%, to close at $8.00 per share on heavy trading volume.
If you purchased CVB securities during the Class Period of October 21, 2009 through August 9, 2010, and you
wish to serve as lead plaintiff in this action, you must move the Court no later than October 22, 2010. Any member
of the proposed class may move the Court to serve as lead plaintiff through counsel of their choic