A lawsuit was filed on behalf of investors in Equity Bancshares, Inc. (NASDAQ: EQBK) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 05/30/2019 -- An investor, who purchased shares of Equity Bancshares, Inc. (NASDAQ: EQBK), filed a lawsuit over alleged violations of Federal Securities Laws by Equity Bancshares, Inc.
Investors who purchased shares of Equity Bancshares, Inc. (NASDAQ: EQBK) have certain options and for certain investors are short and strict deadlines running. Deadline: July 12, 2019. NASDAQ: EQBK investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
Wichity, KS based Equity Bancshares, Inc. operates as the bank holding company for Equity Bank that provides a range of financial services primarily to businesses, business owners, and individuals. On April 22, 2019, after the market closed, Equity Bancshares, Inc 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.
The plaintiff claims that between May 11, 2018 and April 22, 2019, the Defendants failed to disclose to investors that the Company lacked adequate internal controls to assess credit risk, that, as a result, certain of the Company's loans posed an increased risk of loss, that, as a result, the Company was reasonably likely to incur significant losses for certain substandard loans, and 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.
Those who purchased shares of Equity Bancshares, Inc. (NASDAQ: EQBK) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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