OZK Bank Investors Seek Initial Approval of $45M Settlement

By Sarah Jarvis (May 24, 2022, 6:38 p.m. EDT) — A class of investors led by a British pension fund has urged a federal court in Arkansas to give initial approval to a $45 million deal to resolve allegations that OZK Bank misled investors about the health of two home loans that allegedly suffered losses of $45.5 million.

Lead plaintiff Strathclyde Pension Fund said in a memorandum in support of its offer for preliminary settlement approval on Monday that the agreement it reached with the bank formerly known as Bank of the Ozarks is “a excellent recovery of the asserted claims in this litigation”, adding that it is fair, reasonable and sufficient.

“Considering the…

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