NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces filing of a class action lawsuit on behalf of purchasers of the securities of Sterling Bancorp, Inc. (NASDAQ: SBT) between November 17, 2017 and December 8, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Sterling Bancorp investors under the federal securities laws.
To join the Sterling Bancorp class action, go to http://www.rosenlegal.com/cases-register-1792.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.
On December 9, 2019, the Company disclosed that it "voluntarily and temporarily suspended its Advantage Loan program in connection with an ongoing internal review of the program's documentation." On that same day, shares of Sterling common stock fell $2.16 per share to close at $7.29 per share, a decline of nearly 23%.
The complaint filed in this class action alleges that, throughout the Class Period, defendants made untrue statements of material fact and omitted other facts necessary to make the statements not misleading and failed to disclose material facts concerning, inter alia, the Company's loan underwriting, risk management and internal controls, including repeatedly touting its strict underwriting, asset quality and the Advantage Loan Program.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 27, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1792.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail 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. Attorney advertising. Prior results do not guarantee a similar outcome.