| COMPANY |
Eagle Bancorp, Inc. |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
19-cv-06873 |
| JUDGE |
The Honorable Lorna Gail Schofield |
| CLASS PERIOD |
March 2, 2015 - July 17, 2019 |
| SECURITY TYPE |
All Securities |
Case Background:
On July 24, 2019, the initial complaint in this securities class action was filed against Eagle Bancorp, Inc. (“Eagle Bancorp” or the “Company”) and certain of Eagle Bancorp’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action brought on behalf of all investors who purchased or otherwise acquired Eagle Bancorp securities between March 2, 2015 and July 17, 2019, (the “Class Period”) both dates inclusive.
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies. Specifically, the complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) Eagle Bancorp’s internal controls and procedures and compliance policies were inadequate; (2) the foregoing shortcoming created a foreseeable risk of heightened regulatory scrutiny and the need for the Company undertake its own internal investigations; and (3) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Current Status of Case:
Lead Plaintiff filed an amended complaint (the “Complaint”) on January 21, 2020. On April 2, 2020, Defendants filed a Motion to Dismiss the Complaint. This Motion was fully briefed. On April 16, 2021, the Court granted the parties’ Application to Stay Proceedings while pursuing mediation. On May 6, 2021, the Court was advised that the parties reached an agreement to settle with the Court’s approval. On February 10, 2022, the Court issued an Order Approving the Settlement and Final Judgment was entered. This action has concluded.
The deadline to file a claim was January 12, 2022. You may find additional information regarding the terms of the settlement and claim filing process at www.EagleSecuritiesSettlement.com, or by calling JND Legal Administration at 1-833-677-1091.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.