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Horizon Bancorp, Inc.

Company NameHorizon Bancorp, Inc.
Stock SymbolHBNC

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, Horizon’s stock price fell $1.43, or 11%, to close at $11.62 per share on March 13, 2023, thereby injuring investors.

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