Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Eagle Bancorp, Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Eagle Bancorp, Inc. (“Eagle” or the “Company”) (NASDAQ: EGBN) of the September 23, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Eagle stock or options between March 2, 2015 and July 17, 2019 and would like to discuss your legal rights, please fill out the form below. There is no cost or obligation to you. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com.
The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Eagle securities between March 2, 2015 and July 17, 2019 (the “Class Period”). The case, Stein v. Eagle Bancorp, Inc., No. 1:19-cv-06873 was filed on July 24, 2019 and has been assigned to Judge Lorna G. Schofield.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Eagle’s internal controls and procedures and compliance policies were inadequate; (2) the foregoing shortcoming created a foreseeable risk of heightened regulatory scrutiny and the need for the Company undertake its own internal investigations; and (3) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Specifically, on July 17, 2019, Eagle disclosed rising legal costs stemming from ongoing internal and government investigations of “the Company’s identification, classification and disclosure of related party transactions; the retirement of certain former officers and directors; and the relationship of the Company and certain of its former officers and directors with a local public official.”
On this news, Eagle’s stock price fell from $53.45 on July 17, 2019 to $39.15 on July 18, 2019—a $14.30 or a 26.75% drop.
Eagle Bancorp, Inc. (EGBN)
* The submission of this form does not create an attorney-client relationship.
Filed on 07/25/2019
Ticker NASDAQ: EGBN
Lead Plaintiff Deadline 09/23/2019
685 Third Avenue 26th Floor
10017 New York, New York
Phone (212) 983-9330
Fax (212) 983-9331
Richard W. Gonnello firstname.lastname@example.org Phone (212) 983-9330 Fax (212) 983-9331