September 20, 2014 9:29 PM ET


Company Overview of Tennessee Commerce Bancorp Inc.

Company Overview

Tennessee Commerce Bancorp, Inc. does not have significant operations. Previously, the company operated as the bank holding company for Tennessee Commerce Bank, which offered various retail and commercial banking services to small to medium-sized businesses, entrepreneurs, and professionals in the Nashville metropolitan statistical area, Tennessee. The company was founded in 2000 and is headquartered in Franklin, Tennessee.

381 Mallory Station Road

Suite 207

Franklin, TN 37067

United States

Founded in 2000

99 Employees



Key Executives for Tennessee Commerce Bancorp Inc.

Age: 60
Chief Financial Officer and Principal Accounting Officer
Age: 46
Chief Operating Officer
Age: 71
Senior Vice President and National Lending Executive
Chief Risk Officer
Compensation as of Fiscal Year 2014.

Tennessee Commerce Bancorp Inc. Key Developments

Plaintiffs May Amend Complaint Against Bank Holding Company to Add Auditor as Defendant

The U.S. District Court for the Middle District of Tennessee granted the motion of plaintiffs in a securities fraud class action brought against a bank holding company to amend their complaint to add the firm's external auditor as a defendant and to add sections relating to the complaint's "control person" allegations. Shareholders in Tennessee Commerce Bancorp (TCB), the holding company for Tennessee Commerce Bank, sued the firm and certain of its officers, alleging securities fraud arising out of misrepresentations made by the defendants in furtherance of a scheme to artificially inflate the firm's stock price, thereby causing the firm's stockholders to suffer economic loss. The court noted that the most significant changes in the proposed amended complaint were the addition of TCB's external auditor as a defendant, the addition of sections concerning each individual officer defendant explaining why each was a "control person," and the addition of details clarifying the allegations relating to fraud and scienter. Although the new alleged facts came from sources that were available to the plaintiff when the first amended complaint was filed, the plaintiffs argued the complexity of the case justified the timing of the remaining amendments. The court found the prejudice to the defendants was limited and that it was in the interest of justice that all potentially liable entities be made parties to the case.

Rosen Law Firm Files Class Action against Tennessee Commerce Bancorp, Inc

The Rosen Law Firm announced that it has filed a class action lawsuit on behalf of investors who purchased the securities of Tennessee Commerce Bancorp Inc. during the period from April 18, 2008 through September 13, 2012, seeking to recover damages from violations of federal securities laws.

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