NEW YORK--(BUSINESS WIRE)--
The Rosen Law Firm, P.A. announces that it is investigating potential securities fraud claims against Commonwealth Bankshares, Inc. and certain of its former management (CWBS) resulting from allegations that the Company concealed the Bank’s deteriorating financial condition. The investigation focuses on allegations 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 purchased Commonwealth Bankshares stock on or before September 23, 2011, you have important legal rights that may form the basis of a claim for damages against Commonwealth Bankshares and its former management for issuing inaccurate financial statements and related misstatements concerning its business.
The Rosen Law Firm is preparing a securities class action on behalf of Commonwealth Bankshares investors. To join the planned class action, go to http://rosenlegal.com.
If you purchased Commonwealth Bankshares on or before September 23, 2011 and would like further information about your rights, please contact Phillip Kim, Esq. or Laurence Rosen, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at firstname.lastname@example.org or email@example.com. You can also go to our website at www.rosenlegal.com and join the proposed class action.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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