If you suffered losses in Blue Ridge Bankshares stock, contact Blue Ridge Bankshares stock loss lawyer Timothy L. Miles today
INTRODUCTION TO THE BLUE RIDGE BANKSHARES 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.
If you suffered losses in Blue Ridge Bankshares stock and wish to serve as lead plaintiff in the Blue Ridge Bankshares class action lawsuit, please contact Blue Ridge Bankshares Stock Loss Lawyer Timothy L. Miles 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. In this comprehensive guide, we will discuss everything a Blue Ridge Bankshares shareholder will need to know about the Blue Ridge Bankshares class action lawsuit. 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:
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. WILL THE LEAD PLAINTIFFS GET MORE MONEY THAN CLASS MEMBERS IF THE BLUE RIDGE BANKSHARES CLASS ACTION LAWSUIT SETTLES?
No, but they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the Blue Ridge Bankshares class action lawsuit. Under the Private Securities Litigation Reform Act of 1995, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class. However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff that directly relates to the representation of the class in the Blue Ridge Bankshares class action lawsuit on behalf of investors who suffered losses in Blue Ridge Bankshares stock.
CAN THE COURT APPOINT MORE THAN ONE LEAD PLAINTIFF IN THE BLUE RIDGE BANKSHARES LAWSUIT?
Yes, at its discretion the Court may appoint a person, entity, or group of persons and/or entities as Lead Plaintiffs to oversee the Blue Ridge Bankshares lawsuit.
WHAT RESPONSIBILITIES WILL THE LEAD PLAINTIFF HAVE IN THE BLUE RIDGE BANKSHARES CLASS ACTION LAWSUIT?
A Lead Plaintiff owes a fiduciary duty to the class, and therefore, must act in the best interest of the class in the Blue Ridge Bankshares lawsuit. Some of the responsibilities of the Lead Plaintiff in the Blue Ridge Bankshares lawsuit include:
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. IF I SUFFERED LOSSES IN BLUE RIDGE BANKSHARES STOCK, HOW MUCH CAN I GET OUT OF THE BLUE RIDGE BANKSHARES CLASS ACTION LAWSUIT?
In a securities fraud class action lawsuit, the plaintiff’s damages are typically calculated as out-of-pocket losses. These losses are expressed as the difference between the price at which the stock was sold and the price at which the stock would have been sold absent any artificial inflation caused by the defendant’s alleged misrepresentations or omissions which is why you suffered losses in Blue Ridge Bankshares stock. Contact a Blue Ridge Bankshares stock loss lawyer who could explain your losses in greater detail if you suffered losses in Blue Ridge Bankshares stock.
IF I SUFFERED LOSSES IN BLUE RIDGE BANKSHARES STOCK, WHEN CAN I EXPECT TO RECEIVE MY PAYMENT IF THE BLUE RIDGE BANKSHARES LAWSUIT SETTLES?
If there is a settlement in the Blue Ridge Bankshares lawsuit, you should receive a court-ordered Notice through the mail which will provide a date when the court will hold a final hearing to decide if it will approve the settlement. If your address changed, you may also find lawsuits through sites such as Consumer Action and ClassAction.org along with instructions on how to submit a claim. The Notice will instruct you what you need to do to file a claim. In some class action settlements, you are automatically submitted and need to do nothing further. However, in others, you may be required to submit more information to proceed such as documentation proving your purchase, such as a receipt or brokerage slip or other evidence that you bought or sold Blue Ridge Bankshares stock during the class period and suffered losses in Blue Ridge Bankshares stock.
The court will hold a final hearing in the Blue Ridge Bankshares lawsuit on a date provided in the Notice to decide whether to finally approve the settlement. If the Court finally approves the settlement, and there are no objections or appeals, settlement payments will be mailed to all Participating Class Members within a few months. However, if there are objections or appeals, resolving them can take a significant amount of time, perhaps more than a year to resolve the Blue Ridge Bankshares lawsuit. IF THERE IS A SETTLEMENT IN THE BLUE RIDGE BANKSHARES CLASS ACTION LAWSUIT, AND I DO NOT THINK IT IS FAIR, WHAT ARE MY OPTIONS AS A CLASS MEMBER?
If you receive a notice that the Blue Ridge Bankshares class action lawsuit has been settled and you do not believe the settlement is fair but do not want to opt-out and file your own lawsuit, you may object to the settlement. You may object to any part of the settlement and the Court will consider all timely filed objections in the class action against Blue Ridge Bankshares. The notice will contain the date when any objections must be filed and will include instructions on where to send your objection and will also include a date for the final hearing in the Blue Ridge Bankshares class action lawsuit if you would like to appear and be heard by the court in the Blue Ridge Bankshares class action lawsuit.
HOW MUCH DOES IT COST TO HIRE AN BLUE RIDGE BANKSHARES STOCK LOSS LAWYER IF I SUFFERED LOSSES IN BLUE RIDGE BANKSHARES STOCK?
Nothing. If you suffered losses in Blue Ridge Bankshares and are a member of the class, it does not cost anything to hire a Blue Ridge Bankshares stock loss lawyer. Our firm litigates securities fraud cases on a contingent fee basis, so plaintiffs and the class do not pay attorneys’ fees or court costs unless there is a recovery, and the attorney fees and costs are awarded by the court as a percentage of the total recovery for the class. So, contact a Blue Ridge Bankshares stock loss lawyer today if you suffered losses in Blue Ridge Bankshares stock about a Blue Ridge Bankshares lawsuit.
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. MilesNashville 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. Comments are closed.
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The Law Offices of Timothy L. Miles Tapestry at Brentwood Town Center 300 Centerview Dr., #247 Brentwood, TN 37027 Phone: (855) 846-6529 Email: [email protected] HOURS OF OPERATION Mon-Fri: 24/7 Sat-Sun: 24/7 |
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