The Law Office of Robbins Umeda LLP
Announces Investigation of CVB Financial
August 16, 2010 07:10 PM Eastern Daylight Time
SAN DIEGO--(EON: Enhanced Online News)--Robbins Umeda LLP has commenced an investigation into
possible breaches of fiduciary duty and other violations of the law by certain officers and directors at CVB Financial
Corporation ("CVB" or the "Company") (NASDAQ: CVBF). CVB operates as a bank holding company for
Citizens Business Bank that provides various retail banking and financial services to small to mid-sized businesses.
The Company was founded in 1974 and is headquartered in Ontario, California.
Robbins Umeda LLP's investigation concerns whether the Company's directors and officers breached their fiduciary
duty to CVB by causing it to issue materially inaccurate financial statements regarding its loan underwriting guidelines,
its allowance for credit losses, and provision for credit losses.
On July 26, 2010, the Company received a subpoena from the Los Angeles office of the U.S. Securities and
Exchange Commission, which requested information about statements that CVB made and the way it determines its:
(i) loan underwriting guidelines; (ii) allowance for credit losses; (iii) allowance for loan loss calculation methodology;
(iv) methodology for grading loans; (v) the process for making provisions for loan losses; and (vi) provisioning for
credit losses. On August 9, 2010, the Company announced its receipt of the subpoena. As a result of this
announcement, the Company's value declined 22%.
If you are a shareholder of CVB, plan to continue to hold your shares, and would like more information about your
rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at
Robbins Umeda LLP is a California-based law firm, which has significant experience representing investors in
shareholder derivative actions, securities fraud class actions, and merger-related shareholder class actions. For more
information about the firm, please go to http://www.robbinsumeda.com.
Robbins Umeda LLP
Gregory E. Del Gaizo