Company Website: http://www.rgrdlaw.com
NEW YORK -- (Business Wire)

Robbins Geller Rudman & Dowd LLP (“Robbins Geller”) (http://www.rgrdlaw.com/cases/gfg/) today announced that a class action has been commenced on behalf of an institutional investor in the United States District Court for the Northern District of Texas on behalf of purchasers of Guaranty Financial Group, Inc. (“GFG”) (OTC:GFGFQ) common stock during the period between December 12, 2007 and August 24, 2009 (the “Class Period”).

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Samuel H. Rudman or David A. Rosenfeld of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at djr@rgrdlaw.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.rgrdlaw.com/cases/gfg/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges Temple-Inland, Inc. (“TIN”) and certain of TIN’s and GFG’s former and current executives with violations of the Securities Exchange Act of 1934. TIN was a holding company that operated several businesses through its various subsidiaries, including corrugated packaging, forest products, building products, real estate and financial services businesses. Prior to the beginning of the Class Period, TIN conducted its financial services business through GFG and Guaranty Bank, which was then a wholly-owned subsidiary of TIN.

Specifically, the complaint alleges that defendants failed to disclose the following adverse facts, among others: (i) GFG’s financial results were artificially inflated due to Guaranty Bank’s failure to state certain of its assets at their true fair value; (ii) GFG improperly delayed the recognition of its impaired assets in order to inflate its reported income and regulatory capital; (iii) GFG misrepresented its true financial condition, liquidity, capital and ability to repay its debt obligations; (iv) GFG would be unable to satisfy its future debt obligations as they matured; (v) GFG’s internal and disclosure controls were materially deficient; (vi) GFG through Guaranty Bank, was engaged in unsafe and/or unsound banking practices; and (vii) as a result of the foregoing, GFG’s financial statements were not fairly presented in conformity with generally accepted accounting principles and were materially false and misleading.

On August 24, 2009, GFG filed a Form 8-K with the SEC disclosing that Guaranty Bank had been closed by the Office of Thrift Supervision and that the Federal Deposit Insurance Corporation had been appointed as receiver to Guaranty Bank. GFG also disclosed that the New York Stock Exchange had suspended trading in GFG common stock.

Plaintiff seeks to recover damages on behalf of all purchasers of GFG common stock during the Class Period (the “Class”). The plaintiff is represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Robbins Geller, a 180-lawyer firm with offices in San Diego, San Francisco, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Robbins Geller Web site (http://www.rgrdlaw.com) has more information about the firm.

Contacts:

Robbins Geller Rudman & Dowd LLP
Samuel H. Rudman, 800-449-4900
David A. Rosenfeld
djr@rgrdlaw.com

Source: Robbins Geller Rudman & Dowd LLP