NEW YORK, Dec. 5, 2017 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Eagle Bancorp, Inc. ("Eagle Bancorp" or the "Company") (NASDAQ: EGBN). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Eagle Bancorp and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On December 1, 2017, Aurelius Value published a report stating that it had uncovered evidence of an insider loan scheme involving Eagle Bancorp Chairman and Chief Executive Officer Ronald D. Paul and certain of the Company's Board members. The report stated, in part, that "insiders treat Eagle as their own private piggy bank." The report further stated that Eagle Bancorp insiders enrich themselves by carving out undisclosed special deals in which members of Eagle Bancorp's management personally benefit from customer relationships.
On this news, Eagle Bancorp's share price fell $16.20, or 24.49%, to close at $49.95 on December 1, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP