NEW YORK -- (Business Wire)
Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC is
investigating potential claims on behalf of purchasers of the securities
of United Community Banks, Inc. (“United” or the “Company”)
(NASDAQ:UCBI- News),
concerning whether the company and certain of its officers and directors
have violated federal securities laws.
On January 6th, United announced that it will restate its
financial statements for the fourth quarter and year ended December 31,
2010 and the first three quarters of 2011, and that the financial
statements for the these periods should no longer be relied on. The
Company will revise the disclosures contained in its SEC periodic
reports for those periods. According to the Company, revision for the
fourth quarter of 2010 will increase the previously reported net loss of
$16.4 million to $173.1 million or $9.25 per share, and will increase
the previously reported net loss for the full year 2010 of $345.6
million to $502.3 million, or $27.09 per share. On this news shares of
the Company declined more than 10%.
If you are aware of any facts relating to this investigation, or
purchased shares of United, you can assist this investigation by
contacting either Peretz Bronstein or Eitan Kimelman of Bronstein,
Gewirtz & Grossman, LLC at 212-697-6484 or via email eitan@bgandg.com.
Those who inquire by e-mail are encouraged to include their mailing
address and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.
Our primary expertise is the aggressive pursuit of litigation claims on
behalf of our clients. In addition to representing institutions and
other investor plaintiffs in class action security litigation, the
firm’s expertise includes general corporate work, private securities
offerings, and securities arbitration.
Contacts:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan
Kimelman, 212-697-6484
eitan@bgandg.com
Source: Bronstein, Gewirtz & Grossman, LLC
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