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SAN FRANCISCO, Aug. 18, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds investors in Eagle Bancorp, Inc. (NASDAQ: EGBN) of the securities class action, Shiva Stein v. Eagle Bancorp, Inc. et al., No. 19-cv-06873 pending in the U.S. District Court for the Southern District of New York.
If you invested in Eagle Bancorp securities between March 2, 2015 and July 17, 2019 (the “Class Period”) and suffered losses you do not need to sign up to be included in the putative class of investors.
If you suffered significant losses (in excess of $100,000) you may qualify to be a lead plaintiff – one who selects and oversees the attorneys prosecuting the case.
If you wish to serve as a lead plaintiff in this class action, you must move the Court no later than September 23, 2019 (the “Lead Plaintiff deadline”). Contact Hagens Berman immediately for more information about the case and being a lead plaintiff:
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
According to the Complaint, Defendants misled investors about the adequacy of Eagle Bancorp’s internal controls for financial reporting, compliance with applicable laws and regulations and the circumstances behind certain officers’ and directors’ departures.
On July 17, 2019, the market learned the truth when Defendants disclosed rising legal costs associated with ongoing internal and government investigations of “certain related-party transactions, retirement of former officers and directors, and the relationship between a local public official and the company and its former officers and directors.”
This news drove the price of Eagle Bancorp shares sharply lower on July 18, 2019.
“We’re focused on investors’ losses and the extent to which Eagle Bancorp may have misled investors about its senior management’s self-dealing and other corrupt practices,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Eagle Bancorp should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email EGBN@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000