INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against Eagle Bancorp, Inc.
27 Juli 2019 - 3:00PM
Business Wire
The law firm of Kirby McInerney LLP announces that a class
action lawsuit has been filed in the U.S. District Court for the
Southern District of New York on behalf of those who acquired Eagle
Bancorp, Inc. (“Eagle Bancorp” or the “Company”) (NASDAQ: EGBN)
securities during the period from March 2, 2015 to July 17, 2019
(the “Class Period”). Investors have until September 23, 2019 to
apply to the Court to be appointed as lead plaintiff in the
lawsuit.
The lawsuit alleges that Eagle Bancorp concealed from the
investing public that: (i) its internal controls and procedures and
compliance policies were inadequate; and (ii) the foregoing
shortcoming created a foreseeable risk of heightened regulatory
scrutiny and the need for the Company to undertake its own internal
investigations.
On July 17, 2019, Eagle Bancorp 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 Bancorp’s stock price fell $14.30,
or 26.8%, to close at $39.10 on July 18, 2019.
If you acquired Eagle Bancorp securities during the Class
Period, have information, or would like to learn more about these
claims, please contact Thomas W. Elrod of Kirby McInerney at
212-371-6600, by email at investigations@kmllp.com, or by filling
out this contact form, to discuss your rights or interests with
respect to these matters without any cost to you.
Kirby McInerney is a New York-based plaintiffs’ law firm
concentrating in securities, antitrust, and whistleblower
litigation. The firm’s efforts on behalf of shareholders in
securities litigation have resulted in recoveries totaling billions
of dollars. Additional information about the firm can be found at
Kirby McInerney’s website: www.kmllp.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: https://www.businesswire.com/news/home/20190727005004/en/
Kirby McInerney LLP Thomas W. Elrod, Esq., (212) 371-6600
investigations@kmllp.com www.kmllp.com
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