Horizon Bancorp Inc. Common Stock (NASDAQ: HBNC)
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company maintained deficient internal accounting controls relating to its classification of certain loan balances and securities; (ii) as a result of the foregoing deficiencies, throughout 2022 the Company issued quarterly financial statements containing errors that would require subsequent revision; (iii) restatement of the foregoing financial statements would hinder the Company’s ability to timely file its annual report for 2022; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.