WELCOME TO THE OZK SECURITIES LITIGATION WEBSITE

This website has been established to provide general information related to the proposed settlement of the lawsuit referred to as Strathclyde Pension Fund v. Bank OZK, et al., No. 4:18-cv-00793-DPM (the “Litigation”), and pending before the Honorable D.P. Marshall Jr. in the United States District Court for the Eastern District of Arkansas (the “Court”). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement dated May 23, 2022 (the "Stipulation"), which can be found and downloaded by clicking on the Case Documents tab above.

The law firm of Robbins Geller Rudman & Dowd LLP represents you and other Class Members. You will not be charged for these lawyers. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. If you want to be represented by your own lawyer, you may hire one at your own expense.

WHAT IS THIS LAWSUIT ABOUT?

This is a securities class action brought by Strathclyde Pension Fund ("Lead Plaintiff") against Bank OZK ("OZK" or the "Company") and George Gleeson (collectively, "Defendants") for alleged violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”). The Litigation asserts claims on behalf of all Persons who purchased or otherwise acquired the common stock of OZK between February 19, 2016 and October 18, 2018, inclusive. 

Lead Plaintiff's claims in the Litigation are set forth in the Second Amended Complaint for Violations of the Federal Securities Laws filed on October 23, 2020 (the “Complaint”). The Complaint alleged that Defendants made materially false and misleading statements in and omissions from OZK’s public filings and on public conference calls with financial analysts concerning OZK’s asset and credit quality.  While OZK reported credit metrics and related ratios that demonstrated the “pristine” credit quality of its loan portfolio, Defendants allegedly concealed two nonperforming commercial real estate loans, identified as the “South Carolina Loan” and the “North Carolina Loan.” The Complaint further alleged that as a result of Defendants’ misrepresentations and omissions, the price of OZK common stock was artificially inflated during the Class Period, and that when OZK announced at the end of the Class Period that it had charged off the South Carolina and North Carolina Loans, the price of OZK stock declined, thereby damaging the Class Members.  Defendants deny all of Lead Plaintiff’s allegations. 

If you purchased or otherwise acquired the common stock of OZK between February 19, 2016 and October 18, 2018, inclusive, you are a Class Member. Excluded from the Class are: (i) defendant OZK, its parents, subsidiaries, and any other entity owned or controlled by OZK; (ii) defendant George Gleason; (iii) all other executive officers and directors of OZK, or any of its parents, subsidiaries, or other entities owned or controlled by OZK; (iv) all immediate family members of the foregoing individuals, including grandparents, parents, spouses, siblings, children, grandchildren, and step relations of similar degree; and (v) all predecessors and successors in interest or assigns of any of the foregoing. Also excluded from the Class are those Persons who timely and validly exclude themselves from the Litigation.  

WHAT DOES THE SETTLEMENT PROVIDE?

The proposed Settlement will create a cash settlement fund of $45,000,000 (the “Settlement Fund”), plus any interest that may accrue thereon less certain deductions.

The Settlement Fund, less (a) any taxes, (b) any Notice and Administration Expenses, and (c) any attorneys’ fees and litigation expenses (including any reimbursement to Lead Plaintiff of its costs and expenses in representing the Class) awarded by the Court, will be distributed to Class Members in accordance with a plan of allocation that is approved by the Court.  

Your share of the Net Settlement Fund will depend on several things, including the total dollar amount of claims represented by the valid Proofs of Claim that Class Members send in, compared to the dollar amount of your claim, all as calculated under the Plan of Allocation outlined in the Notice of (I) Proposed Settlement and Plan of Allocation; (II) Settlement Hearing; and (III) Motion for an Award of Attorneys' Fees and Litigation Expenses ("Notice").

ADDITIONAL INFORMATION

Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and the Stipulation. We recommend you read the Notice and other relevant case documents carefully.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

IMPORTANT DATES AND DEADLINES