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Sterling Bancorp, Inc.

Case Summary

Sterling Bancorp, Inc. Securities Litigation

Case Summary

Case Status:    ONGOING    
On or around 09/22/2020 (Date of last review)

Filing Date: February 26, 2020

According to the Complaint, Sterling Bancorp, Inc. specializes in residential mortgages but offers a broad suite of products and services to individuals, professionals, businesses and commercial customers. The vast majority of the Company’s loans are to individuals and businesses in California.

The Complaint alleges that, throughout the Class Period, Defendants made untrue statements of material fact and omitted other facts necessary to make the statements not misleading and failed to disclose material facts concerning, inter alia, the Company's loan underwriting, risk management and internal controls, including repeatedly touting its strict underwriting, asset quality and the Advantage Loan Program.

On May 1, 2020, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on July 2.

Company & Securities Information

Defendant: Sterling Bancorp, Inc.

COMPANY INFORMATION:

Sector: Financial
Industry: Regional Banks
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: STL
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.

First Identified Complaint

Oklahoma Police Pension and Retirement System, et al. v. Sterling Bancorp, Inc., et al.

COURT: E.D. Michigan
DOCKET #: 20-CV-10490
JUDGE: Hon. Arthur J. Tarnow
DATE FILED: 02/26/2020
CLASS PERIOD START: 11/17/2017
CLASS PERIOD END: 12/08/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berman Tabacco
  2. Weitz & Luxenberg, P.C. (Detroit)
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Class Action Complaint for Violations of the Federal Securities Laws 02/26/2020
2 Order Appointing Lead Plaintiff and Approving its Selection of Interim Lead Counsel and Interim Local Counsel 05/01/2020
3 U.S. District Court Civil Docket 05/18/2020

Reference Complaint

Oklahoma Police Pension and Retirement System, et al. v. Sterling Bancorp, Inc., et al.

COURT: E.D. Michigan
DOCKET #: 20-CV-10490
JUDGE: Hon. Arthur J. Tarnow
DATE FILED: 07/02/2020
CLASS PERIOD START: 11/17/2017
CLASS PERIOD END: 03/17/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berman Tabacco
  2. Weitz & Luxenberg, P.C. (Detroit)
Reference Complaint (REF) Filings:
No Document Title Filing Date
1 Amended Class Action Complaint for Violations of the Federal Securities Laws 07/02/2020
2 U.S. District Court Civil Docket 07/20/2020

Related District Court Filings

—Related District Court Filings Data is not available
 
 

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