NEW ORLEANS, April 26, 2020 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have only until April 27, 2020 to file lead plaintiff applications in securities class action lawsuits against Sterling Bancorp, Inc. (NasdaqGS: SBT), if they purchased the Company's shares between November 17, 2017 and March 17, 2020, inclusive (the "Class Period") including shares issued in connection with its November 2017 Initial Public Offering. These actions are pending in the United States District Court for the Eastern District of Michigan.
What You May Do
If you purchased securities of Sterling and would like to discuss your legal rights and how these cases might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-sbt/ to learn more. If you wish to serve as a lead plaintiff in these class actions by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by April 27, 2020.
About the Lawsuit
Sterling and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
Following previous disclosures by the Company regarding misconduct by its employees in connection with its loan origination process, including its income verification and documentation practices, on March 17, 2020, Sterling disclosed that it would delay the filing of its Annual Report as more time was needed to complete additional review of the processes and write-offs relating to the suspension and termination of the Bank's Advantage Loan program.
On this news, the price of Sterling's shares plummeted.
The first-filed case is Oklahoma Police Pension and Retirement System v. Sterling Bancorp, Inc, et al., 2:20-cv-10490.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC