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Guaranty Financial Group, Inc GFG Securities Stock Fraud


Company: Guaranty Financial Group, Inc
Ticker Symbol: GFG
Class Period: Dec-12-07 to Aug-24-09
Date Filed: Nov-14-11
Lead Plaintiff Deadline: Jan-13-12
Court: Northern District of Texas
Allegations:
Bensalem, PA: A securities class action lawsuit has been filed on behalf of purchasers of the common stock of Guaranty Financial Group, Inc. ("GFG"or the "Company") between December 12, 2007 and August 24, 2009, inclusive (the "Class Period"), seeking to pursue remedies under the Securities Exchange Act of 1934. The class action lawsuit was filed in the United States District Court for the Northern District of Texas.

The lawsuit alleges violations of federal securities laws by Temple-Inland, Inc. ("TIN") and certain of TIN' and GFG' former and current executive officers. TIN was a holding company that, through its subsidiaries, operated several businesses, including corrugated packaging, forest products, building products, real estate and financial services. Prior to the Class Period, TIN conducted its financial services business through GFG and a then-wholly owned subsidiary of TIN, Guaranty Bank.

The lawsuit alleges that defendants failed to disclose that, among other things: (i) GFG' financial results were artificially inflated due to Guaranty Bank' failure to state certain of its assets at their true fair value; (ii) GFG improperly delayed recognition of its impaired assets in order to inflate its reported income and regulatory capital; (iii) GFG misrepresented its true financial condition and prospects; (iv) GFG would be unable to satisfy its future debt obligations as they matured; (v) GFG' internal and disclosure controls were materially deficient; (vi) GFG through Guaranty Bank, was engaged in unsafe and/or unsound banking practices; and (vii), as a result of the foregoing, GFG' financial statements were materially false and misleading and not fairly presented in conformity with Generally Accepted Accounting Principles.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

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Published on Nov-15-11

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