Shareholder Alert: Zwerling, Schachter & Zwerling, LLP Files Class Action Lawsuit on Behalf of WSB Financial Group, Inc. (WSFG)

SEATTLE, Nov. 14  /PRNewswire/ -- Zwerling, Schachter & Zwerling, LLP ("Zwerling Schachter") filed a class action lawsuit in the United States District Court for the Western District of Washington.  The class action is brought on behalf of all persons and entities who purchased or acquired the common stock of WSB Financial Group, Inc. ("WSB Financial") (NASDAQ:WSFG) pursuant and/or traceable to the Company's Registration Statement and Prospectus issued in connection with the initial public offering of WSB Financial common stock (the "IPO") on December 14, 2006 and through and including October 23, 2007 (the "Class Period').  As described below, the deadline to file a motion seeking to be appointed lead plaintiff is December 31, 2007.

The complaint alleges that the Company's Registration Statement and Prospectus issued in connection with the IPO misrepresented:  the standards by which WSB Financial conducted, originated, administered and monitored construction and mortgage loans; its compliance with applicable laws; and its financial condition.  As such it is alleged that defendants violated Sections 11 and 15 of the Securities Act of 1933.

On October 23, 2007, WSB Financial disclosed that certain deficiencies were identified in various lending products and practices. WSB Financial further disclosed that regulators were scrutinizing "the application, processing and approval of certain loans previously made."  On this news, WSB Financial's stock fell dramatically over the next two trading days, from a closing price of $11.56 a share on October 23, 2007 to a closing price of $4.73 a share on October 25, 2007, on unusually high trading volume.

If you purchased or otherwise acquired WSB Financial common stock during the Class Period, you may apply to serve as lead plaintiff.  The lead plaintiff is responsible for overseeing the prosecution of the action and ensuring that the interests of the class are protected. You may apply to be appointed lead plaintiff through Zwerling Schachter.

If you wish to discuss this securities class action or have any questions concerning your rights and interests with respect to this matter, please contact Zwerling Schachter (Shaye J. Fuchs, Esq. or Stephanie E. Kirwan, Esq.) at 1-800-721-3900 or by e-mail at  or .

Zwerling Schachter concentrates in prosecuting class actions nationwide on behalf of investors.  The firm currently plays a leading role in numerous major securities and complex commercial litigations pending in federal and state courts and has offices in New York City, Garden City, New York, Boca Raton, Florida and Seattle, Washington.  The firm has been recognized by courts throughout the country as highly experienced and skilled in complex litigation, particularly with respect to federal securities class action litigation.

Visit our website at:  http://www.zsz.com/ 

DATASOURCE: Zwerling, Schachter & Zwerling, LLP



CONTACT:  Shaye Fuchs of Zwerling, Schachter & Zwerling, LLP,

[phone]



Web Site:  http://www.zsz.com/ 

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