5 FREQUENTLY ASKED QUESTIONS IN THE BLUE RIDGE BANKSHARES CLASS ACTION LAWSUIT

If you suffered losses in Blue Ridge Bankshares stock, contact Blue Ridge Bankshares stock stock loss lawyer Timothy L. Miles

INTRODUCTION TO THE BLUE RIDGE BANKSHARES CLASS ACTION LAWSUIT

Contact a Blue Ridge Bankshares stock Loss Lawyer about a Blue Ridge Bankshares stock class action lawsuit

​The Blue Ridge Bankshares class action lawsuit seeks to represent purchasers or acquirers of Blue Ridge Bankshares, Inc. (NYSE: BRBS) publicly traded securities between March 10, 2023 and October 31, 2023, inclusive (the “Class Period”).  Captioned Hunter v. Blue Ridge Bankshares, Inc., No. 23-cv-08944 (E.D.N.Y.), the Blue Ridge Bankshares class action lawsuit charges Blue Ridge Bankshares and certain of its top current and former executive officers with violations of the Securities Exchange Act of 1934.
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If you suffered losses in Blue Ridge Bankshares stock and wish to serve as lead plaintiff in the Blue Ridge Bankshares class action lawsuit, or just have general questions about your rights as a shareholder, please contact Blue Ridge Bankshares Stock Loss Lawyer Timothy L. Miles at no charge, by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. 

Lead plaintiff motions for the Blue Ridge Bankshares class action lawsuit must be filed with the court no later than February 5, 2024.

Read on for answers to five frequently asked questions about the Blue Ridge Bankshares class action lawsuit.

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what are the ALLEGATIONS IN THE BLUE RIDGE BANKSHARES CLASS ACTION LAWSUIT?

The Blue Ridge Bankshares class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Blue Ridge Bankshares’ financial statements from March 10, 2023 to the present included certain errors; and (ii) as a result, Blue Ridge Bankshares would need to restate its previously filed financial statements from March 10, 2023 to October 31, 2023.

​The Blue Ridge Bankshares class action lawsuit further alleges that on October 31, 2023, Blue Ridge Bankshares disclosed that it would need to restate its consolidated financial statements for its 2022 Annual Report and the first two quarters of 2023.  On this news, the price of Blue Ridge Bankshares stock fell nearly 34%, according to the complaint.

WHAT IS THE LEAD PLAINTIFF DEADLINE IN THE BLUE RIDGE BANKSHARES CLASS ACTION LAWSUIT?

​​When a securities class action is filed such as the Blue Ridge Bankshares class action lawsuit, the person who files the first complaint is required to publish a notice announcing the filing. Anyone who wants to be lead plaintiff on behalf of the class in the Blue Ridge Bankshares class action lawsuit must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published. 

WHAT ARE MY CHOICES IF I RECEIVE A NOTICE IN THE BLUE RIDGE BANKSHARES CLASS ACTION LAWSUIT?

​​First, read the notice very carefully.  You have two choices.  First, you can do nothing and remain a member of the class represented by lead counsel.  Second, if you believe you have a large enough loss to justify it, you can opt out of the Blue Ridge Bankshares class action lawsuit and file your own separate lawsuit. Note, that if you opt out, you will not be able to participate in any settlement or recovery obtained in the Blue Ridge Bankshares class action lawsuit. 

WHAT ARE THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE BLUE RIDGE BANKSHARES LAWSUIT?

Serving as a Lead Plaintiff in the Blue Ridge Bankshares lawsuit has several advantages and important benefits including:

• A Lead Plaintiff is able to negotiate more competitive attorney fees and reduce other litigation costs by actively monitoring the class counsel.
• Lead Plaintiff has the benefit of being able to manage the litigation primarily by overseeing and monitoring the progress of the action and the efforts of counsel, and being able to review and comment on important filings and other documents pertaining to the prosecution of the action.
• There is no financial risk in serving as a Lead Plaintiff because Lead Counsel advances all costs and expenses incurred in the prosecution of the case and will be reimbursed only if there is a successful settlement or judgment recovery on behalf of the class.
• Lead Plaintiff has the benefit of being involved and active in all negotiations relating to any settlement.
• Lead Plaintiffs that continue owning the stock of the defendant will enjoy the long-term benefits from governance reform resulting from the litigation. 

Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against Blue Ridge Bankshares​​ if you suffered significant losses in Blue Ridge Bankshares​ stock. ​

HOW WAS THE CLASS PERIOD DETERMINED IN THE BLUE RIDGE BANKSHARES LAWSUIT?

In a securities fraud class action, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives.  The class period starts when the company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading.  The class period ends when the truth is revealed to the investing public through a corrective disclosure.  
 
To be a part of the class in the Blue Ridge Bankshares lawsuit, you must have suffered losses in Blue Ridge Bankshares​ stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated to be included in the class action against Blue Ridge Bankshares​​​.  

CONTACT A BLUE RIDGE BANKSHARES​ STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN BLUE RIDGE BANKSHARES STOCK ABOUT A BLUE RIDGE BANKSHARES CLASS ACTION LAWSUIT

​If you suffered losses in Blue Ridge Bankshares stock, contact Blue Ridge Bankshares stock loss lawyer Timothy L. Miles today for a free case evaluation about a Blue Ridge Bankshares ​class action lawsuit. Call today and see what a Blue Ridge Bankshares stock loss lawyer could do for you if you suffered losses in Blue Ridge Bankshares​​​ ​stock.

Blue Ridge Bankshares stock loss lawyer Timothy L. Miles

Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors,  shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,Class Action:  Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM  (2019-2022); Americas Most Honored Lawyers 2020 – Top 1% by America's Most Honored (2020-2022).  Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more.  Please visit our website or call for free anytime.

​CONTACT                                                      
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
​300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529