|Company name||Eagle Bancorp, Inc.|
NEW YORK, September 20, 2019 – Bragar Eagel & Squire, P.C. reminds investors that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all investors that purchased Eagle Bancorp, Inc. (NYSE: EGBN) securities between 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 complaint, filed on July 24, 2019, alleges that throughout the Class Period, defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) Eagle Bancorp’s internal controls and procedures and compliance policies were inadequate; (ii) the foregoing shortcoming created a foreseeable risk of heightened regulatory scrutiny and the need for the Company to undertake its own internal investigations; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
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 per share, or 26.75%, to close at $39.15 per share on July 18, 2019.
If you purchased or otherwise acquired shares of Eagle Bancorp shares during the class period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at email@example.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.