LOS ANGELES--(BUSINESS WIRE)--Tostrud Law Group, PC announces an investigation on behalf of Sterling Bancorp, Inc. (“Sterling Bancorp” or the “Company”) (NASDAQ: SBT) investors concerning the Company and its officers’ possible violations of federal securities laws.
On December 9, 2019, Sterling Bancorp disclosed that its subsidiary, Sterling Bank and Trust, FSB, suspended its Advantage Loan program due to an ongoing internal review of documentation on past loans and due to an implementation of “systems and controls to ensure the Bank’s policies and procedures are followed on loans originated under the program.”
On this news, the Company’s stock price fell $2.16, or nearly 23%, to close at $7.29 per share on December 9, 2019, thereby injuring investors.
If you purchased Sterling Bancorp securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Jon A. Tostrud of Tostrud Law Group, PC by telephone at (310) 278-2600, toll-free at (855) 854-8678, or by email to firstname.lastname@example.org, or visit our website at http://tostrudlaw.com/.
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