Banco Santander-Chile
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Financials : Banks | Large Cap Value
Based in ChileCompany profile

Banco Santander-Chile (the Bank), formerly Banco Santander Chile, is a Chilean bank. The Bank's segments include Retail banking, Middle-market, Global Corporate Banking and Corporate Activities (Other). The Retail Banking segment consists of individuals and small to middle-sized entities (SMEs). The Middle-market segment serves companies and large corporations. The Global Corporate Banking segment consists of foreign and domestic multinational companies. The Corporate Activities segment includes its Financial Management Division, which develops global management functions. It provides a range of commercial and retail banking services to its customers, including Chilean peso and foreign currency denominated loans to finance a range of commercial transactions, trade, foreign currency forward contracts and credit lines and a range of retail banking services, including mortgage financing. In addition to its traditional banking operations, the Bank offers a range of financial services.

Closing Price
$25.05
Day's Change
2.91 (13.14%)
Bid
--
Ask
--
B/A Size
--
Day's High
25.57
Day's Low
24.17
Volume
(Heavy Day)
Volume:
1,410,413

10-day average volume:
740,505
1,410,413

RM LAW Announces Investigation of ADTRAN, Inc.

6:15 pm ET October 11, 2019 (PR Newswire) Print

RM LAW, P.C. announces an investigation on behalf of ADTRAN, Inc. ("ADTRAN" or the "Company") (NASDAQ: ADTN) investors concerning the Company and its officers' possible violations of federal securities laws.

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If you purchased shares of ADTRAN and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.

On July 17, 2019, the Company announced "preliminary" earnings for second quarter 2019 due to its ongoing assessment of the reasonableness of its current and previously reported excess and obsolete inventory reserves ("E&O reserves").

On this news, the Company's share price fell $3.69 per share, over 23%, to close at $12.13 per share on July 18, 2019, thereby injuring investors.

Then, on August 12, 2019, the Company disclosed that it would be unable to timely file its quarterly financial report with the SEC. Moreover, the Company disclosed that certain material weaknesses in its internal control resulted in a misstatement of previously reported E&O reserves.

Then, on September 20, 2019, the Company filed its quarterly report for the period ended June 30, 2019 with the SEC and disclosed a $0.8 million out-of-period adjustment, which increased its E&O reserves for the period.

For more information regarding this, please contact RM LAW, P.C. (Richard A. Maniskas, Esquire) toll-free at (844) 291-9299 or by email at rm@maniskas.com or click here. For more information about class action cases in general or to learn more about RM LAW, P.C. please visit our website by clicking here.

RM LAW, P.C. is a national shareholder litigation firm. RM LAW, P.C. is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.

CONTACT: RM LAW, P.C.
         Richard A. Maniskas, Esquire
         1055 Westlakes Dr., Ste. 300
         Berwyn, PA 19312
         484-324-6800
         844-291-9299
         rm@maniskas.com

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