Faruqi & Faruqi, LLP Investigates Potential Wrongdoing At Tennessee Commerce Bancorp, Inc. (TNCC) And Its August 2010 Stock Offering

NEW YORK--(BUSINESS WIRE)-- Faruqi & Faruqi, LLP, a national law firm concentrating on investor rights, consumer rights and enforcement of federal antitrust laws, is investigating potential wrongdoing at Tennessee Commerce Bancorp, Inc. (“TNCC” or the “Company”) (NasdaqGM: TNCC). Faruqi & Faruqi, LLP seeks to determine whether TNCC and its investment bankers Macquarie Capital, Sterne Agee, FIG Partners, LLC and Odeon Capital Group LLC have violated the federal securities laws in connection with TNCC’s August 2010 stock offering of 5,750,000 shares at $4.00 per share.

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Specifically, the investigation concerns a March 17, 2011 report issued by the Federal Deposit Insurance Corporation (“FDIC”) and the Tennessee Department of Financial Institutions (“TDFI”), wherein the and the TDFI concluded that the Company needs to restate its financial statements for the quarters ended December 31, 2009, March 31, 2010 and June 30, 2010 due to the Company’s inadequate allowance for loan and lease losses.

Take Action

If you purchased TNCC securities in the Company’s August 2010 stock offering from TNCC’s investments bankers Macquarie Capital, Sterne Agee, FIG Partners, LLC and Odeon Capital Group LLC and you would like to discuss your legal rights, visit www.faruqilaw.com/TNCC. You can also contact us by calling Anthony Vozzolo toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected]. Faruqi & Faruqi, LLP also encourages anyone with information regarding TNCC’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.

About Faruqi & Faruqi, LLP

Faruqi & Faruqi, LLP is a national law firm, representing investors, consumers and companies in the prosecution of claims under state corporate and consumer laws and the federal securities and antitrust laws. The firm is focused on providing exemplary legal services in complex litigation. Founded in 1995, the firm maintains its principal office in New York City, with offices in Delaware, California, Florida and Pennsylvania. The lawyers at Faruqi & Faruqi, LLP have demonstrated a clear commitment to championing the rights of shareholders and consumers nationwide.

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Faruqi & Faruqi, LLP
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Attn: Anthony Vozzolo, Esq.[email protected]
Toll Free: (877) 247-4292
Phone: (212) 983-9330

Source: Faruqi & Faruqi, LLP