Tenn. Bank Sued Over Inflated Stock, False SEC Docs

Law360, New York (November 5, 2012, 9:00 PM EST) -- Tennessee Commerce Bancorp Inc. and its top brass were hit with a class action Friday in Tennessee federal court claiming it led investors to buy securities at artificially inflated prices and filed false reports with the U.S. Securities and Exchange Commission to cover up the scheme.

Carolyn Lynn, a former Tennessee Commerce Bancorp investor, filed the lawsuit Friday on behalf of “at least hundreds” of fellow customers who invested between April 18, 2008, and Sept. 13, 2012, the complaint said.

Beginning in April 2008, the corporation...
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