NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Eagle Bancorp, Inc. (“Eagle Bancorp” or the “Company”) (NASDAQ: EGBN) securities during the period from 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 lawsuit alleges that Eagle Bancorp concealed from the investing public that: (i) its internal controls and procedures and compliance policies were inadequate; and (ii) the foregoing shortcoming created a foreseeable risk of heightened regulatory scrutiny and the need for the Company to undertake its own internal investigations.
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, or 26.8%, to close at $39.10 on July 18, 2019.
If you acquired Eagle Bancorp securities during the Class Period, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.
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