Horizon Bancorp, Inc. (NASDAQ: HBNC)

This lawsuit is for anyone who acquired securities in Horizon Bancorp, Inc. (NASDAQ: HBNC) from March 9, 2022through March 10, 2023.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the Company had proper controls to prevent improper accounting when the Company lacked sufficient controls.

On March 10, 2023, Horizon disclosed that it would be unable to timely file its annual report on time and discovered material weaknesses in its internal controls. The Company specified that the weaknesses included accounting revisions of previously issued financial statements and a calculation error in the Company’s public float. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Horizon Bancorp, Inc. (NASDAQ: HBNC) from March 9, 2022 through March 10, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.