Green Bankshares, Inc.

Company Name
Green Bankshares, Inc.
Stock Symbol
GRNB
Class Period
January 19, 2010 to November 9, 2010
Court
Eastern District of Tennessee, Northeastern Division
Status
Settled

This action is brought on behalf of all purchasers of the securities of Green Bankshares, Inc. during the period January 19, 2010 through November 9, 2010, inclusive (the “Class Period”). The Complaint charges the Company and certain of its executive officers with violations of sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and S.E.C. Rule 10b-5. The Complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company was overvaluing the collateral of certain loans; (2) that, as such, the Company was failing to timely take impairment charges to reduce the carrying values of certain loans to appropriate market values; (3) that the Company lacked adequate internal and financial controls; and (4) that, as a result, the Company’s financial results were materially false and misleading at all relevant times.