NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Equity Bancshares, Inc. (NASDAQ:EQBK) resulting from allegations that Equity Bancshares may have issued materially misleading business information to the investing public.
On January 24, 2019, Equity Bancshares disclosed that, during the fourth quarter of 2018, one credit relationship was downgraded to Watch and Substandard for $19 million and $9 million, respectively. On this news, the Company’s stock price fell $2.14 per share, or more than 6%, to close at $32.15 per share on January 24, 2019.
Then, on April 22, 2019, Equity Bancshares disclosed a $14.5 million provision for loss against the credit relationship, resulting in a $4.1 million net loss for the first quarter of 2019. On this news, the Company’s stock price fell $4.76 per share, or more than 16%, to close at $24.71 per share on April 23, 2019.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Equity Bancshares investors. If you purchased shares of Equity Bancshares please visit the firm’s website at http://www.rosenlegal.com/cases-register-1572.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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