Judge KathleenWilliams dismissed a lawsuit filed by three investors, named as the Fernandez Group,against Davenport, Iowa-based RiverValley Bancorp Inc. for failure to provide specifics in their allegationsof fraud, the Quad City Times of Davenportreported April 1.
The lawyer forthe Fernandez Group will file an amended complaint within the two-week deadline,the publication added.
According tothe Times, the lawsuit against River ValleyBancorp was filed May 2014, with the complainants alleging fraudulent inducementand federal and state securities fraud against the company and former CEO LarryHenson, as well as accusations of conspiracy to commit fraud against Henson, RobertFick, James Woods and M. Scott Kleiman.
All defendantspreviously filed a response denying the allegations, the report said.
The publicationadded that a second lawsuit claiming a total loss of $2.2 million has also beendismissed, while a third lawsuit is still pending.