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Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Equity Bancshares, Inc.

May 21, 2019

LOS ANGELES--(BUSINESS WIRE)--May 21, 2019--

Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming  July 12, 2019  deadline to file a lead plaintiff motion in the class action filed on behalf of Equity Bancshares, Inc. (“Equity Bancshares” or the “Company”) (NASDAQ:  EQBK ) investors who purchased securities between  May 11, 2018 and April 22, 2019, inclusive (the “Class Period”).

If you are a shareholder who suffered a loss, click  here  to participate.

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to  shareholders@glancylaw.com, or visit our website at  www.glancylaw.com.

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.

Follow us for updates on Twitter: twitter.com/GPM_LLP.

If you purchased or otherwise acquired Equity Bancshares securities during the Class Period you may move the Court no later than  July 12, 2019 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190521005974/en/

CONTACT: Glancy Prongay & Murray LLP, Los Angeles

Lesley Portnoy, 310-201-9150 or 888-773-9224

shareholders@glancylaw.com

www.glancylaw.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: Glancy Prongay & Murray LLP

Copyright Business Wire 2019.

PUB: 05/21/2019 05:49 PM/DISC: 05/21/2019 05:49 PM

http://www.businesswire.com/news/home/20190521005974/en

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