LOS ANGELES, CA / ACCESSWIRE / April 25, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Sterling Bancorp, Inc. ("Sterling" or "the Company") (NASDAQ:SBT) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between November 17, 2017 and December 8, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before April 27, 2020.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Sterling repeatedly touted its strict underwriting, quality of its assets, and its Advantage Loan Program. The Company admitted on December 9, 2019, that it "voluntarily and temporarily suspended its Advantage Loan program in connection with an ongoing internal review of the program's documentation." Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Sterling, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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SOURCE: The Schall Law Firm
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