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Eagle Bancorp Inc.

Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of shareholders of Eagle Bancorp Inc., (“Eagle Bancorp” or the “Company”) (NASDAQ: EGBN) between March 2, 2015 and July 17, 2019, both dates inclusive.

If you purchased Eagle Bancorp Inc. securities, and/or would like to discuss your legal rights and options, please click “Join Class Action” above. 

New York, New York—Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of shareholders of Eagle Bancorp Inc., (“Eagle Bancorp” or the “Company”) (NASDAQ: EGBN) between March 2, 2015 and July 17, 2019, both dates inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Southern District of New York and seeks to recover damages for Eagle Bancorp investors under the Securities Exchange Act of 1934. If you wish to serve as lead plaintiff, you must move the court no later than September 23, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you take no action, you may remain an absent class member.

According to the lawsuit, the Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Eagle Bancorp’s internal controls and procedures and compliance policies were inadequate; (ii) the foregoing shortcoming created a foreseeable risk of heightened regulatory scrutiny and the need for the Company to undertake its own internal investigations; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On July 17, 2019, Eagle Bancorp disclosed rising legal costs 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 per share, or 26.75%, to close at $39.15 per share on July 18, 2019.

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.

ATTORNEY ADVERTISING. © 2019 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter

Contact Information

Matthew E. Guarnero

Bernstein Liebhard LLP

https://www.bernlieb.com

(877) 779-1414

MGuarnero@bernlieb.com