Philadelphia, Pennsylvania–(Newsfile Corp. – September 20, 2023) – A recently filed securities fraud class action alleges that Horizon Bancorp, Inc. NASDAQ: HBNC made materially false and misleading statements about the Company’s business, operations, and prospects, including those that relate to: (i) the Company maintained deficient internal accounting controls relating to its classification of certain loan balances and securities; (ii) as a result of the deficiencies, throughout 2022, the Company issued quarterly financial statements containing errors that would require subsequent revision; (iii) restatement of those financial statements would hinder the Company’s ability to timely file its annual report for 2022; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

Current Horizon Bancorp shareholders who have held Horizon Bancorp stock since on or before March 9, 2022, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them.

If you would like to learn more about this matter, you are encouraged to visit https://grabarlaw.com/the-latest/horizon-bancorp-shareholder-investigation/, contact us at jgrabar@grabarlaw.com, or call 267-507-6085.

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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/181275