NEW YORK, May 14, 2019 /PRNewswire/ -- Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, announced that a securities class action lawsuit has been filed on behalf of those who purchased or acquired the securities of Equity Bancshares, Inc. ("Equity Bancshares," "EQBK" or the "Company) (NASDAQ: EQBK) between May 11, 2018 and April 22, 2019, both dates inclusive (the "Class Period"). The lawsuit, filed in the United States District Court for the Southern District of New York, seeks to recover damages for Equity Bancshares investors under the Securities Exchange Act of 1934.
If you purchased EQBK securities, and/or would like to discuss your legal rights and options, please visit EQBK Class Action Lawsuit or contact Joe Seidman toll free at (877) 779-1414 or email@example.com.
According to the lawsuit, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclosed that (1) Equity Bancshares lacked adequate internal controls to assess credit risk; (2) certain of Equity Bancshares' loans posed an increased risk of loss; (3) Equity Bancshares was reasonably likely to incur significant losses for certain substandard loans; and (4) that, as a result of the foregoing, Defendants' positive statements about Equity Bancshares' business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On April 22, 2019, Equity Bancshares disclosed that a $14.5 million provision for loss against a credit relationship had impacted its financial results for first quarter 2019. On this news, Equity Bancshares' share price fell $4.76, or more than 16%, to close at $24.71 per share on April 23, 2019.
If you wish to serve as lead plaintiff in the Equity Bancshares class action, you must move the court no later than July 12, 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.
If you purchased EQBK securities, and/or would like to discuss your legal rights and options, please visit https://www.bernlieb.com/cases/equitybancshares-eqbk-class-action-lawsuit-fraud-stock-131/ or contact Joe Seidman toll free at (877) 779-1414 or firstname.lastname@example.org.
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.
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SOURCE Bernstein Liebhard LLP