The law firm of former Louisiana Attorney General Charles C. Foti Jr. said Tuesday that it filed a securities-fraud class action against CVB Financial Corp.
Kahn Swick & Foti LCC filed the suit in federal court for the central district of California on behalf of shareholders who purchased CVB's common stock between Oct. 21, 2009, and Aug. 9, 2010.
It joins a handful of law firms that have filed suit against CVB, of Ontario, Calif.
CVB disclosed that the Securities and Exchange Commission was investigating it for possible accounting violations related to its operations and earnings reports, mainly its loan methodology.
The Kendall Law Group in Dallas said on Monday it was investigating CVB for shareholders based on the SEC subpoena.