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Frontier Financial Corporation under shareholder investigation
An investigation on behalf of investors in Frontier Financial Corporation (Public, NASDAQ-FTBK) over possible violations of Federal Securities laws – Contact the Shareholders Foundation
If you purchased Frontier Financial Corporation shares between July 2, 2008 and March 16, 2010, or if you purchased prior to July 2008 and continue to hold their FTBK, you have certain options and you should contact the Shareholders Foundation, Inc. by email at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns potential violations of the federal securities laws by Frontier Financial Corporation in connection with, among other things, statements by Frontier Financial Corp. relating to its accounting practices for loan losses and valuation adjustments. On March 16, 2010, Frontier Financial announced it would be restating its financial results for the quarter and year ended December 31, 2009.
Frontier Financial Corporation, located in Everett, WA, is a bank holding company. Frontier has one subsidiary: Frontier Bank (the Bank), which is engaged in a general banking business and in businesses related to banking. The Bank is engaged in general banking business in Washington and Oregon, including the acceptance of demand, time and savings deposits and the origination of loans. Frontier Financial Corp. had in 2007 Total Assets of $3.99569billion and a Net Income of $73.94million, in 2008 Total Assets of $4.10444billion, and in 2009 $3.59498billion. Shares of Frontier Financial Corp traded recently at $2.94 per share, down from its 52weekHigh of $30 per share. FTBK traded in September 2008 at over $185 per share, and in 2007 over $290 per share.
Those who purchased Frontier Financial Corporation (Public, NASDAQ-FTBK)
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