An broker in Synovus Financial has filed a proposed balance chic action accusation in the United States District Court for the Northern District of Georgia on account of purchasers of Synovus Financial Corp. (Public, NYSE:SNV) accepted banal during the aeon amid January 24, 2008 and January 21, 2009, adjoin Synovus and added over declared violations of Federal Securities laws.
Those who purchased Synovus Financial Corp. (NYSE:SNV) accepted banal during the aeon amid January 24, 2008 and January 21, 2009, accept assertive options and there are austere and abbreviate deadlines running. Deadline: 09/04/2009. Those should acquaintance the Shareholders Foundation at Email: mail(at)shareholdersfoundation.com or alarm us at: +1 (858) 779 - 1554. According to the complaint the plaintiff alleges Synovus Financial Corp. (NYSE:SNV) and assertive of its admiral and admiral abandoned the Securities Exchange Act of 1934 by arising amid January 24, 2008 and January 21, 2009 materially apocryphal and ambiguous statements apropos Synovus Financial’s business and banking after-effects and affianced in abnormal behavior which afflicted Synovus’ investors by declining to acknowledge the admeasurement of its ample acknowledgment to the Sea Island Company , a resort in Georgia, and the breakable action of Sea Island. The plaintiff accuses that Synovus aswell bootless to abundantly and appropriate almanac losses for its broken loans, causing its banking after-effects to be materially apocryphal and as a aftereffect of defendants declared apocryphal statements, Synovus banal (NYSE:SNV) traded at artificially aggrandized prices amid January 24, 2008 and January 21, 2009, extensive a top of $13.49 per allotment on February 1, 2008. Then, on January 22, 2009, so the accusation alleges, Synovus Financial appear a net accident for the fourth division of 2008 of $637 million, or $1.93 per share. The fourth division 2008 after-effects included accouterment amount of $364 actor and a $443 actor non-cash amicableness crime charge. According to the complaint on this news, Synovus banal fell to as low as $4.52 afore it bankrupt at $4.75 per allotment on January 22, 2009.
Synovus Financial Corp., amid in Columbus, GA, is a adapted banking casework aggregation and a registered case captivation company. Synovus Financial provides banking services, including bartering and retail banking, banking management, insurance, mortgage and leasing services.
Synovus Financial appear a net assets of $526.30million with Total Assets of $33.06448billion in 2007. Shares of Synovus Financial traded afresh at $2.75 per share, down from a 52weekHigh of $23.70 per share.
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