Tier One Lawsuit Settled
LINCOLN, Neb. (AP) - A lawsuit that said Lincoln-based TierOne
Corp. misled investors has been settled for $3.1 million.
The Lincoln Journal Star reports the lawsuit filed in May 2010 said TierOne issued false or misleading financial statements about the bank company in an effort to boost its stock price.
The stock had traded at $35 a share in 2007 but dropped to $5.50
a share in August 2008. When the lawsuit was filed on May 20, 2010,
TierOne's stock was just 17 cents a share.
TierOne Bank was closed by federal regulators and its assets
sold to Great Western Bank.
The settlement will be paid by TierOne's insurers and covers
anyone who bought the stock between Aug. 9, 2007, and May 14, 2010.
The settlement contains no admission of wrongdoing.
© Associated Press
MOST VIEWED STORIES
Three former Atchison Co employees arrested on felonies
One hospitalized, one jailed, after Atchison attack
Fentanyl find nets four in two Atchison cases
Services set for Effingham woman killed in crash
Barricaded fugitive arrested in Jackson County
Two file to challenge local legislator
Fatal Atchison apt fire investigation continues
USD 415 board select new member
Support sought for fire ravaged family
U.S. 36 work in Doniphan Co to impact motorists
Four injured in Richardson Co rollover crash
Results from SE Nebraska contested Primary Elections
Date set for signals switch at Hiawatha intersection
Armed felon found, arrested, in Jackson Co
Flags to fly half staff Wednesday across KS
State Board approves land transfer agreements
Memorial Day enforcement hits KS roads
LATEST STORIES
Four injured in Richardson Co rollover crash
Tuition increase by KU, others in state
KS grad requirements updated after two decades.
Fentanyl find nets four in two Atchison cases
Armed felon found, arrested, in Jackson Co
Support sought for fire ravaged family
Potts first to file for Sheriff's seat in Atchison Co
Senator Slama won't endorse candidate in legislative race
Local author brings "Broken and Chained" to Falls City Saturday