On or around 05/18/2020 (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.
Company & Securities Information
Defendant: Sterling Bancorp, Inc.
Industry: Regional Banks
Headquarters: United States
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:
Weitz & Luxenberg, P.C. (Detroit)
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violations of the Federal Securities Laws
Order Appointing Lead Plaintiff and Approving its Selection of Interim Lead Counsel and Interim Local Counsel
U.S. District Court Civil Docket
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available