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Horizon Bancorp, Inc.

Corporate Governance / Derivative

  • Date:
  • 9/1/2023
  • Company Name:
  • Horizon Bancorp, Inc.
  • Stock Symbol:
  • HBNC
  • Class Period:
  • FROM 3/9/2022 TO 3/10/2023
  • Status:
  • Filed
  • Filing Date:
  • 4/20/2023
  • Court:
  • U.S. District Court: Eastern District of New York

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Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Horizon Bancorp, Inc. (NASDAQ: HBNC) on behalf of long-term stockholders following a class action complaint that was filed against Horizon Bank on April 20, 2023 with a Class Period from March 9, 2022 and March 10, 2023. Our investigation concerns whether the board of directors of Horizon Bank have breached their fiduciary duties to the company.

According to the complaint, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company maintained deficient internal accounting controls relating to its classification of certain loan balances and securities; (ii) as a result of the foregoing deficiencies, throughout 2022 the Company issued quarterly financial statements containing errors that would require subsequent revision; (iii) restatement of the foregoing financial statements would hinder the Company’s ability to timely file its annual report for 2022; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

If you are a long-term stockholder of Horizon Bank, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out the form below. There is no cost or obligation to you.
The individual or institution below (“Plaintiff”) has reviewed and agrees to the Bragar Eagel & Squire, P.C. (“BESPC”) retainer agreement and authorizes BESPC to prosecute an action on Plaintiff’s behalf under the federal securities laws or applicable state laws to recover damages on behalf of investors in Horizon Bancorp. BESPC will prosecute the action on a full contingency basis and will forward all costs and expenses.
 

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