NEW YORK, NY / ACCESSWIRE / January 27, 2020 / Pomerantz LLP is investigating claims on behalf of investors of Sterling Bancorp, Inc. ("Sterling" or the "Company") (SBT). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Sterling and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On December 9, 2019, Sterling Bancorp disclosed that its subsidiary, Sterling Bank and Trust, FSB, had suspended its Advantage Loan program due to an ongoing internal review of documentation on past loans and due to an implementation of "systems and controls to ensure the Bank's policies and procedures are followed on loans originated under the program."
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.
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.
SOURCE: Pomerantz LLP
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