Equity Bancshares, Inc.
| Company Name | Equity Bancshares, Inc. |
| Stock Symbol | EQBK |
| Class Period | May 11, 2018 to April 22, 2019 |
| Lead Plaintiff Motion Deadline | July 12, 2019 |
On April 22, 2019, after the market closed, the Company reported a $4.1 million net loss for first quarter 2019, partly due to a $14.5 million impairment for loss against a credit relationship.
On this news, the Company’s share price fell $4.76, or over 16%, to close at $24.71 per share on April 23, 2019, thereby damaging investors.
The complaint filed in this class action alleges that the Registration Statements were false and misleading and omitted to state material adverse facts. Throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company lacked adequate internal controls to assess credit risk; (2) that, as a result, certain of the Company’s loans posed an increased risk of loss; (3) that, as a result, the Company was reasonably likely to incur significant losses for certain substandard loans; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Submit Your Information
If you suffered a loss on your Equity Bancshares, Inc. investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.