SAN DIEGO, April 22, 2023 (GLOBE NEWSWIRE) — Shareholder Rights Law Firm Johnson Fistula, LLP announces that a class action lawsuit has been filed on behalf of investors by Horizon Bancorp, Inc. HBNC. The class action is being brought on behalf of shareholders who purchased securities of Horizon Bancorp between and including March 9, 2022 and March 10, 2023 (the “Class Period”). Investors are hereby notified that they have until June 19, 2023 to petition the court to appear as lead plaintiff in this lawsuit.

What actions can I take at this time? If you have suffered a loss and would like to learn more about whether you are a Lead Plaintiff, please contact Jim Baker (jimb@johnsonfistula.com) via email or phone at 619-814-4471. When emailing, please include your phone number.

To participate in this promotion you can click on the following link or copy and paste it into a browser:

https://www.cognitoforms.com/JohnsonFistel/HorizonBancorpInc2

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According to the Complaint, the Defendants have failed to disclose that: (i) the Company maintained deficient internal accounting controls related to its classification of certain loan balances and securities; (ii) as a result of the above deficiencies, the Company has published quarterly financial statements throughout 2022 that contained errors that would require subsequent restatement; and (iii) any restatement of the foregoing financial statements would adversely affect the Company’s ability to timely file its 2022 annual report.

On March 10, 2023, Horizon filed a notice with the SEC regarding the company’s inability to file its annual report on Form 10-K for the year ended December 31, 2022 and announced receipt of a notice from NASDAQ as a result of the noncompliance known to submit its annual report in a timely manner and to disclose that it has identified material weaknesses in its internal controls. Following this news, Horizon’s stock price fell $1.43 per share, or 10.96%, to close at $11.62 per share on March 13, 2023.

A lead plaintiff acts on behalf of all other group members in directing the…