SHAREHOLDER ALERT: Eagle Bancorp, Inc. (EGBN) Sued for Misleading Shareholders; The Law Offices of Timothy L. Miles Encourages Shareholders to Contact the Firm

HENDERSONVILLE, TN / ACCESSWIRE / July 29, 2019 / The Law Offices of Timothy L. Miles, who has been leading the fight to protect shareholder rights for over 18 years, announces that a purchaser of Eagle Bancorp, Inc. (NASDAQ: EGBN) has filed a class action complaint against the company for alleged violations of the Securities Exchange Act of 1934 between March 2, 2015 and July 17, 2019. Eagle Bancorp operates as the bank holding company for EagleBank, which provides commercial and consumer banking services.

Eagle Bancorp Accused of Misleading Investors

According to the complaint, in its 2016 Form 10-K, Eagle Bancorp acknowledged deficiencies in its procedures and internal control over financial reporting, but touted a remediation plan to address the issue. Then, in December 2017, Aurelius Value reported allegations that EagleBank executives offered bank loans in exchange for cheap valuations for other personal investments and “treat Eagle as their own private piggy bank.” Eagle Bancorp rejected the assertions and recovered from a brief stock price drop, continuing to trade its stock at inflated prices. In its following Form 10-Ks, Eagle Bancorp touted that its controls over financial reporting remained effective and that any insider related party loans or transactions were made “in the ordinary course of business…as those prevailing at the time for comparable transactions with outsiders.” These statements proved to be materially false and misleading in July 2019, when Eagle Bancorp revealed ongoing internal and government investigations into its disclosure of related party transactions and its relationship with a local public official. On this news, Eagle Bancorp’s stock fell $14.30, or 26.75%, to close at $39.15.

Eagle Bancorp Shareghoders Urged to Contact the Firm

If you purchased Eagle Bancorp securities, have information, or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Timothy L. Miles, Esquire, at 615-587-738, Toll-Free at 855-846-6529, or by email to tmiles@timmileslaw.com. If you inquire by email please include your mailing address, telephone number, and the number shares owned.

About Timothy L. Miles

Timothy L. Miles is a nationally recognized shareholder rights attorney born and raised in Nashville, Tennessee. Mr. Miles maintains the AV Preeminent Rating by Martindale-Hubbell, their highest rating for both legal ability and ethics, and is a is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, is also a supurb rated attorney by Avvo, and the only class action lawyer in Nashville with an Avvo rating of 10, their highes rating available. Awards: Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV® Preeminent™ Rating by Martindale-Hubble® (2014-2019); PRR AV Preeminent Rating on Lawyers.com (2017 & 2019); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble® 2015); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for 2017 & 2018 (Avvo); America’s Most Honored Professionals 2018 – Top 1% (The American Registry 2016-2018).

Contact:

Timothy L. Miles, Esq.
Law Offices of Timothy L. Miles
124 Shiloh Ridge
Hendersonville, TN 37075
Telephone: (855-846-6529)
Email: tmiles@timmileslaw.com Website: www.timmileslaw.com

SOURCE: The Law Offices of Timothy L. Miles

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