The complaint alleges that defendants engaged in a variety of accounting improprieties, including their admitted failure to charge off uncollectible loans and to mark Franklin's loans to market.  As a result of the misconduct alleged, defendants understated the Company's delinquent, nonperforming, and uncollectible loans and thereby misrepresented Franklin's financial condition and results, including its overall and per-share profit of its residential mortgage loan portfolio.

The lawsuit seeks to recover losses in the decline in the Company's stock price as a result of the alleged  securities violations.

To join the Franklin Bank class action, click on the link to the right of this page.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION.  UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER.