Faruqi & Faruqi, LLP Encourages Investors Who Suffered Substantial Losses Investing In Commonwealth Bankshares Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Commonwealth Bankshares Inc. (“Commonwealth Bankshares” or the “Company”) (OTC: CWBS).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that the Company and its management fraudulently understated the Bank’s loan loss reserves and concealed the Bank’s inadequate internal controls, which ultimately caused the Bank to fail.
If you invested in Commonwealth Bankshares stock or options before September 23, 2011 and would like to discuss your legal rights, contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org or email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Commonwealth Bankshares’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.