NASDAQ:EFSC Investor Alert: Investigation of Enterprise Financial Services Corp announced
The Shareholders Foundation announces that an investigation on behalf of current investors, who purchased their NASDAQ:EFSC shares prior to 2010, was launched concerning whether certain directors of Enterprise Financial Services Corp breached their fiduciary duties in connection with certain statements.
Clayton, MO based Enterprise Financial Services Corp is the parent of Enterprise Bank and Trust, under which brand it operates in the St. Louis and Kansas City markets
Investors who purchased shares of Enterprise Financial Services Corp (NASDAQ:EFSC) prior to 2010 and currently hold any of these shares, 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 Enterprise Financial Services officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
Enterprise Financial Services Corp reported that its Net Loss of $47.95 million in 2009 turned into a Net Income of $25.10 million in 2012.
Shares of Enterprise Financial Services Corp grew from $7.59 per share in late 2009 to as high as $15.91 per share in November 2011.
On January 25, 2012, Enterprise Financial Services Corp said that it discovered an accounting error that resulted in an inadvertent overstatement of income on loans covered by FDIC loss share agreements for the year ended December 31, 2010 and for the first three quarters of 2011 and 2010.
NASDAQ:EFSC declined from over $15 on Jan. 20, 2012 to as low as $10.29 in June 2012.
Those who purchased shares of Enterprise Financial Services Corp (NASDAQ:EFSC) prior to 2010 and currently hold any of these shares, have certain options and should contact the Shareholders Foundation
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego