OAKLAND, Calif.--(BUSINESS WIRE)--Eagle Bancorp, Inc. shares have declined by more than 20% on news of its involvement in government investigations and failure to meet revenue and earnings estimates due to increased legal fees. Gibbs Law Group is investigating a potential Eagle Bancorp Class Action Lawsuit on behalf of investors who lost money in Eagle Bancorp (NASDAQ: EGBN) stock.
To speak privately with an attorney regarding this class action lawsuit investigation, click here.
On July 17, 2019, Eagle Bancorp disclosed that it has been the target of ongoing government investigations and has incurred increased legal fees as a result. Global Newswire stated that these investigations involve the company’s “identification, classification, and disclosure” of related party transactions, the “retirement” of former officers and directors, and a potentially improper relationship with certain former officers and directors and a public official.
Eagle Bancorp has announced that it is unable to predict the outcome of these ongoing investigations. Company President and CEO, Susan Riel, stated.
“The company expects that it will continue to incur elevated levels of legal accounting and professional fees, at least through the remainder of 2019, as it continues to cooperate with these investigations.”
Following this news, shares of Eagle Bancorp plummeted more than 20% in intraday trading on July 18, 2019, causing significant harm to investors.
If you invested in Eagle Bancorp and would like to speak privately with a securities attorney to learn more about our investigation and your legal rights, visit our website or contact our securities team directly at (888) 410-2925. Our investigation concerns whether Eagle Bancorp and certain of its officers and/or directors have violated federal securities laws.
Gibbs Law Group represents individual and institutional investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Top Class Action Attorneys Under 40,” “Consumer Protection MVP,” and “Top Cybersecurity/ Privacy Attorneys Under 40.”
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