SOUTH ORANGE, N.J.--(BUSINESS WIRE)--
The Law Firm of Arons & Arons, LLC. has initiated an investigation of Eagle Bancorp, Inc. (NASDAQ: EGBN) on behalf of the company’s investors for possible violations of federal securities law.
Eagle Bancorp, Inc. investors who would like to discuss this investigation and their legal options should contact Arons & Arons, LLC. (Jeffrey S. Arons, Esq.) at (973) 762-0795, (877) 512-7667 or email us at [email protected]. For more information please visit https://www.aronslaw.net/investigations.
According to a report issued by Aurelius Value, there was evidence of an insider loan scheme involving Eagle Bancorp Chairman and CEO Ronald D. Paul and other board members. The report references two undisclosed fraud suits filed by the founders of two businesses co-owned by Paul, where it is alleged that Mr. Paul used Eagle to issue large preferential loans in exchange for being personally awarded cheap equity stakes in Eagle borrowers. The article accuses Eagle of expanding into riskier Acquisition Development and Construction loans simply to fuel Mr. Paul’s own business interests rather than those of the shareholders. Following this news, shares of Eagle Bancorp fell over 24% from its previous closing price to close at $49.95 per share on December 1st, 2017.
If you are an investor in Eagle Bancorp, Inc. or have information pertaining to this investigation, you are encouraged to contact Arons & Arons, LLC. (Jeffrey Arons, Esq.) at (973) 762-0795, (877) 512-7667 or email us at [email protected]. For updates and information please visit https://www.aronslaw.net/investigations.
Arons & Arons, LLC. is a family oriented firm, that provides representation for individuals, including investors who have been victimized by securities fraud. Our attorneys understand the financial and emotional trauma that securities fraud can cause, and we are relentless in our efforts to hold corporate wrongdoers accountable and obtain compensation for our clients. For over 30 years our attorneys have provided personal, accessible, and effective legal representation for our clients. www.aronslaw.net
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