BENSALEM, Pa. -- (Business Wire)

Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of United Community Banks, Inc. (“United” or the “Company”) (NASDAQ: UCBI) concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by the Company between January 28, 2011 and January 6, 2012, regarding United’s business, operations and financial condition, were false and misleading.

United operates as the bank holding company for United Community Bank that provides retail and corporate banking services. Specifically, the investigation relates to the Company’s January 6, 2012, disclosure that it will restate its financial results for the 2010 fiscal year and first three fiscal quarters of 2011, and that the Company’s financial statements for these periods should no longer be relied on. According to the Company, the restatement will increase its previously reported 2010 fiscal fourth quarter net loss of $16.4 million to $173.1 million, or $9.25 per share, and will increase its previously reported net loss for the 2010 fiscal year from $345.6 million to $502.3 million, or $27.09 per share. On this news, shares of United declined more than 10 percent, on heavy volume.

If you purchased United securities between January 28, 2011 and January 6, 2012, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

Contacts:

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
(215) 638-4847
(888) 638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com

Source: Law Offices of Howard G. Smith