Regions Investor Class Wins Cert. In Stock Inflation Suit

Law360, New York (June 14, 2012, 5:04 PM EDT) -- An Alabama federal judge on Thursday certified a class of shareholders suing Regions Financial Corp. over alleged misrepresentations related to its 2006 acquisition of AmSouth Bancorp.

U.S. District Judge Inge Prytz Johnson certified a class of shareholders who say they suffered losses because they bought Regions shares at artificially inflated prices between February 2008 and January 2009.

The shareholders allege that, due to Regions’ shoddy internal controls, it was not until the bank came under increased scrutiny after its October 2008 government bailout that it admitted...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.