Regions Financial Corporation RF Stock Purchasers File Securities Fraud Class Action Lawsuit Complaint Against Regions Financial Over Accounting For Goodwill On Balance Sheet.
A securities fraud class action lawsuit has been filed against Regions Financial Corporation (“Regions”), a consumer and commercial banking, trust, securities brokerage, mortgage and insurance products and services firm, and certain of Region Financial’s officers and directors (collectively “Defendants”) in the United States District Court for the Northern District of Alabama on behalf of a class consisting of purchasers of Region Financial’s common stock (symbol: RF) between February 27, 2008 and January 19, 2009 (the “Class Period”), alleging that Regions and certain directors and officers violated federal securities fraud laws, including the the Securities Exchange Act of 1934, by allegedly issuing false and misleading financial statements that failed to properly account for the goodwill carried on Regions’ balance sheet, according to securities fraud class action lawsuit news reports.
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I am a former employee and was sent paperwork. We can not find the paperwork. Could you email it to us?
The fact is the Regions Bank is about the most criminal bunch anyone could find. A neighbor had found thousands literally stolen from their Mother’s account… it was taken by the branch manager and it took over a month to get it put back in. I have been finding one thing after the other, in my readings where Regions Bank changes the dates on transactions to cause bounce check fees and one just a week ago where a 90 year old retired woman had over 50,000 stolen in two checks. Her daughter said it had to be an inside operation. The signatures were forged so obviously no where near the signature card– and the Region employees who falsely claimed they telephoned her to approve the 50,000 plus in checks– were sent to work at a far away branch..(telephoned? they didn’t check the signatures at all) and then to make matters worse Regions Bank is refusing to refund the money into her account. The daughter said it had to be a Regions Bank inside job of theft as they had to know too many details regarding the account and it’s activity to successfully pull off the crime. But God I have found even in the past few months one person after the other getting horrendous mistreatment by Regions Bank– accounts frozen with funds which are vitally needed in them and still more stolen money seems to be common too. Very evil bank.
Regions Bank is a joke. They do the same thing Bank of America does. This is not right. They have have made thousands of dollars off of me.
I lost thousands of dollars in overdraft fees due to the reverse order that Regions cleared my pending items. They screwed me over and over until I just opened a bank account at First Tennessee. They did the same thing. Apparently all banks screw their customers. How do I get involved in the class action lawsuit? Am I eligible for reimbursement???
I too am a victim of Regions corrupt practices of reordering transactions. There have been two times when a car payment was due and several small transactions were done. They would reorder it so that the car payment goes through fine but a those small charges of 0.75 cents or more overdraft my account and each one is accompanied with a $35 dollar overdraft fee. Nothing like seeing your bank account -$180.00 to spoil a good day. And when I phoned to inquire, the rep said the purpose is to “insure” the “highest paid” items (typically mortgage or car payment) go through without difficulty otherwise causing those payments to be returned and I be penalized (all this was “her” words). However Regions bank seems to have no problem allowing charges to overdraft they certainly reorder (and Allow) small transactions to go threw purposely allowing the account to go negative. Directly from my last online statement i’ve already incurred $468 dollars in fees ($72 is returned check fees interestingly enough still caused by their corrupt reorder process). For most people that may not be bad but for others making only so much and barely getting through as it is this only helps to open a wound further…
And dont think you’ll find a bank that doesn’t follow this practice. According to the nice rep ALL banks follow this practice, maybe not credit unions but all those fancy banks – get ready to have your world turned upside down!
I have had almost 12,000 in last 3 years on overdrafts at regions. My credit score and my husbands has dropped to the 500s because of this. I can’t go to another bank because of them. I have sit day after day and made copies of my statements and they change day by day. Your checks and bill paying on line goes in when they want it to. I done know what to do. You call them and get jacked around. I hope someone could do something.