Gilman Law Investigates Lawsuit Against Temple-Inland, Inc.
Gilman Law LLP, a leading national securities law firm, is actively investigating shareholder allegations that Temple-Inland (“Temple-Inland”) and certain of its officers and directors made materially false and misleading statements or failed to disclose material information related to the company’s business and operations in violation of the Securities Exchange Act of 1940.
On August 27, 2009, GFG and its wholly-owned subsidiaries filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division. Accordingly, GFG and Guaranty Bank (the “Bank”) are not named as Defendants in this lawsuit.
For over 40 years, the lawyers at Gilman Law have been involved in all major aspects of securities fraud litigation. The firm specializes in cases involving stock manipulation, securities fraud, and shareholder rights violations. A shareholder class action lawsuit was commenced in the United States District Court for the Northern District of Texas. If you purchased or otherwise acquired shares of Guaranty Financial Group, Inc. (NYSE: GFG) between December 12, 2007 and August 24, 2009 (“Class Period”), and either lost money on the transaction or still hold the shares, you may contact Gilman Law LLP by January 10, 2012 to discuss your rights, including as to recovery of your losses or to obtain additional information.
The true facts, which were known by Defendants but concealed from the investing public during the Class Period, were as follows:
a) the Company’s financial results were artificially inflated due to the Bank’s failure to state certain of its assets at their true fair value;
b) the Company improperly delayed the recognition of its impaired assets in order to inflate its reported income and regulatory capital;
c) the Company misrepresented its true financial condition, liquidity, capital and ability to repay its debt obligations;
d) the Company would be unable to satisfy its future debt obligations as they matured;
e) the Company’s internal and disclosure controls were materially deficient;
f) the Company, through the Bank, was engaged in unsafe and/or unsound banking practices;
g) as a result of the foregoing, GFG’s financial statements were not fairly presented in conformity with GAAP and were materially false and misleading; and
h) based on the foregoing, Defendants lacked a reasonable basis for their positive statements about the Company, its prospects and growth.
Gilman Law has extensive experience representing both individual and institutional investors in securities class action suits. Gilman Law has recovered over a billion dollars for its clients and can help you recover any losses that you have incurred as a result of Temple-Inland’s fraudulent practices. For a free evaluation of your case or to obtain additional information, please complete the form above or CALL TOLL FREE (888) 252-0048.