LOS ANGELES–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24EQBK&src=ctag” target=”_blank”gt;$EQBKlt;/agt; lt;a href=”https://twitter.com/hashtag/CLASSACTION?src=hash” target=”_blank”gt;#CLASSACTIONlt;/agt;–Glancy
Prongay & Murray LLP (“GPM”) reminds investors of the upcoming July
12, 2019 deadline to file a lead plaintiff motion in the class
action filed on behalf of Equity Bancshares, Inc. (“Equity Bancshares”
or the “Company”) (NASDAQ: EQBK)
investors who purchased securities between May 11, 2018 and
April 22, 2019, inclusive (the “Class Period”).
If you are a shareholder who suffered a loss, click here to
participate.
If you wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy, Esquire, at
310-201-9150, Toll-Free at 888-773-9224, or by email to [email protected],
or visit our website at www.glancylaw.com.
On April 22, 2019, after the market closed, the Company reported a $4.1
million net loss for first quarter 2019, partly due to a $14.5 million
impairment for loss against a credit relationship.
On this news, the Company’s share price fell $4.76, or over 16%, to
close at $24.71 per share on April 23, 2019, thereby damaging investors.
The complaint filed in this class action alleges that the Registration
Statements were false and misleading and omitted to state material
adverse facts. Throughout the Class Period, Defendants made materially
false and/or misleading statements, as well as failed to disclose
material adverse facts about the Company’s business, operations, and
prospects. Specifically, Defendants failed to disclose to investors: (1)
that the Company lacked adequate internal controls to assess credit
risk; (2) that, as a result, certain of the Company’s loans posed an
increased risk of loss; (3) that, as a result, the Company was
reasonably likely to incur significant losses for certain substandard
loans; and (4) that, as a result of the foregoing, Defendants’ positive
statements about the Company’s business, operations, and prospects were
materially misleading and/or lacked a reasonable basis.
Follow us for updates on Twitter: twitter.com/GPM_LLP.
If you purchased or otherwise acquired Equity Bancshares securities
during the Class Period you may move the Court no later than July
12, 2019 to request appointment as lead plaintiff in this putative
class action lawsuit. To be a member of the class action you need not
take any action at this time; you may retain counsel of your choice or
take no action and remain an absent member of the class action. If you
wish to learn more about this class action, or if you have any questions
concerning this announcement or your rights or interests with respect to
the pending class action lawsuit, please contact Lesley Portnoy,
Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles,
California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected],
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Contacts
Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy,
310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com
