BOSTON, Feb. 27, 2020 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, announces that a class action lawsuit has been filed against Sterling Bancorp, Inc. (Nasdaq: SBT) and certain of its officers and directors alleging violations of the federal securities laws and reminds investors of an April 27, 2020 lead plaintiff deadline. Investors who purchased Sterling shares between November 17, 2017 and December 8, 2019 should contact Block & Leviton for a free case evaluation.
The lawsuit, filed in the United States District Court for the Eastern District of Michigan, alleges that the Company made materially false and misleading statements about the bank’s Advantage Loan program between November 17, 2017 and December 8, 2019. Sterling stock declined almost 23% on December 9, 2019, after the bank announced that it was suspending the program “as it continues to audit documentation on past loans.”
If you purchased Sterling Bancorp stock between November 17, 2017 and December 8, 2019 and wish to serve as a lead plaintiff, you must move the Court no later than April 27, 2020. As a member of the class, you may seek to file a motion to serve as a lead plaintiff or take no action and remain an absent class member. If you wish to become involved in the litigation or have questions about your legal rights, you are encouraged to contact attorney Mark Delaney at (617) 398-5600, by email at mdelaney@blockesq.com, or by visiting https://shareholder.law/sterling.
Confidentiality to whistleblowers or others with information relevant to this investigation is assured.
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CONTACT:
Mark Delaney
Block & Leviton LLP
(617) 398-5600 phone
https://www.blockesq.com website