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If you purchased shares of Corus Bankshares Inc (NASDAQ: CORS), you might have certain options and should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
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September 12, 2011 - The court approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.
June 2, 2011 - The court preliminarily approved the settlement.
May 17, 2011 - Parties filed a stipulation of settlement.
July 12, 2010 - The lead plaintiff filed a notice of voluntary dismissal, dismissing claims against Corus Bankshares Inc.
April 6, 2010 - The court denied the defendants' motion to dismiss with the exception of Count I’s section 10(b) claim against an individual defendant.
October 1, 2009 - The defendants filed a motion to dismiss.
August 3, 2009 - The lead plaintiff filed an amended consolidated complaint.
June 17, 2009 - The lead plaintiff and lead counsel were appointed.
May 11, 2009 - Lead plaintiff motions were filed.
April 22, 2009 - Two additional investors filed complaints.
April 7, 2009 - Another investor filed a complaint.
March 11, 2009 - An investor in shares of Corus Bankshares Inc (NASDAQ: CORS) filed a lawsuit in the U.S. District Court for the Northern District of Illinois against Corus Bankshares Inc over alleged violations of Federal Securities Laws between January 25, 2008 and January 30, 2009.
According to the complaint the plaintiff alleges that Corus Bankshares Inc and its chief executive officer violated the Securities Exchange Act of 1934. The complaint alleges that the representations contained in Corus Bankshares Inc’s press releases, filings, conference calls, and presentations between January 25, 2008 and January 30, 2009 were materially false and misleading. According to the complaint, on January 30, 2009, Corus Bankshares Inc released partial financial results for fiscal 2008 and stated that “Corus is suffering from the extraordinary effects of what may ultimately be the worst economic downturn since the Great Depression.” Upon this announcement, shares fell nearly 47% to close at $.59 per share on February 2, 2009, on heavy trading volume in excess of two million shares.