BOSTON, Dec. 16, 2019 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors and whistleblowers nationwide, is investigating Sterling Bancorp, Inc. (NASDAQ: SBT) and certain of its officers and directors for potential violations of federal securities laws.
On December 9, 2019, Sterling Bancorp disclosed that its subsidiary, Sterling Bank and Trust, FSB, had suspended its Advantage Loan program in connection with an ongoing internal review of the program’s documentation procedures. The internal review entails auditing documentation on past loans and putting into place additional “systems of controls to ensure the Bank’s policies and procedures are followed for loan origination.” On this news, Sterling Bancorp’s stock price fell $2.16 per share, or 22.86%, to close at $7.29 per share on December 9, 2019.
If you have purchased or otherwise acquired Sterling Bancorp securities and have questions about your legal rights, or possess information relevant to this investigation, you are encouraged to contact attorney Mark Delaney at (617) 398-5600, by email at mdelaney@blockesq.com, or by visiting https://shareholder.law/sbt.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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CONTACT:
BLOCK & LEVITON LLP
Mark Delaney
(617) 398-5600 phone
260 Franklin Street, Suite 1860
Boston, MA 02110
mark@blockesq.com