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 Sterling Bancorp, Inc. (NASDAQ: SBT) resulting from allegations that Sterling Bancorp may have issued materially misleading business information to the investing public.
On December 9, 2019, Sterling Bancorp disclosed that its subsidiary, Sterling Bank and Trust, FSB, had suspended its Advantage Loan program in connection with an ongoing internal review of the program’s documentation procedures. The internal review entails auditing documentation on past loans and putting into place additional “systems of controls to ensure the Bank’s policies and procedures are followed for loan origination.”
As a result of this news, Sterling Bancorp’s share price fell $2.16 or 22.86% to close at $7.29 on December 9, 2019.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Sterling Bancorp investors. If you purchased shares of Sterling Bancorp please visit the firm’s website at http://www.rosenlegal.com/cases-register-1742.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 firstname.lastname@example.org or email@example.com.
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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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