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Lawsuit filed for Investors in shares of Eagle Bancorp, Inc. (NASDAQ: EGBN)

07-31-2019 01:44 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Eagle Bancorp, Inc. (NASDAQ: EGBN) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in Eagle Bancorp, Inc. (NASDAQ: EGBN) shares over alleged securities laws violations.

An investor, who purchased shares of Eagle Bancorp, Inc. (NASDAQ: EGBN), filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Eagle Bancorp, Inc. in connection with certain allegedly false and misleading statements made between March 2, 2015 and July 17, 2019.

Investors who purchased shares of Eagle Bancorp, Inc. (NASDAQ: EGBN) have certain options and for certain investors are short and strict deadlines running. Deadline: September 23, 2019. NASDAQ: EGBN investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Bethesda, MD based Eagle Bancorp, Inc. operates as the bank holding company for EagleBank that provides commercial and consumer banking services primarily in the United States.

On July 17, 2019, Eagle Bancorp, Inc 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.”

Shares of Eagle Bancorp, Inc. (NASDAQ: EGBN) declined from $68.30 per share in October 2017 to as low as $40.09 per share on July 24, 2019.

The plaintiff claims that between March 2, 2015 and July 17, 2019, the Defendants made false and/or misleading statements and/or failed to disclose that Eagle Bancorp’s internal controls and procedures and compliance policies were inadequate, that the foregoing shortcoming created a foreseeable risk of heightened regulatory scrutiny and the need for the Company undertake its own internal investigations, and that as a result, the Company’s public statements were materially false and misleading at all relevant times.

Those who purchased shares of Eagle Bancorp, Inc. (NASDAQ: EGBN) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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