Eagle Bancorp, Inc. (NASDAQ: EGBN)
Hagens Berman Sobol Shapiro LLP alerts investors to the firm's investigation into potential securities law violations connected to a report accusing management of engaging in an improper lending scheme.
If you purchased or otherwise acquired securities of EGBN between October 30, 2016 and December 1, 2017 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing EGBN@hbsslaw.com.
On December 1, 2017, Motley Fool published an article entitled “Why Eagle Bancorp Stock Plunged on Friday.” Motley Fool reported in part that a short investor accused company insiders of treating the Company “as their own private piggy bank” by carving out undisclosed special deals where bank management benefits personally from a customer relationship. This news drove the price of Eagle shares down $16.20, or about 24%, to close at $49.95 that day.
“We’re focused on Eagle’s and senior management’s related party transactions disclosures that, if materially inaccurate, appear to have significantly damaged Eagle investors,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Eagle Bancorp should consider their options to help in the investigation or take advantage of the SEC whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email EGBN@hbsslaw.com.
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