Eagle Bancorp (NASDAQ: EGBN) shares fell over 20% after the company disclosed it is involved in ongoing government investigations. The company said it expects high legal fees for fiscal year 2019. Investors who lost money in EGBN are encouraged to contact an attorney to explore their legal rights.

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Eagle Bancorp Stock Plummets 20% on News of Government Investigations

On July 17th, Eagle Bancorp released its Q2 earnings report, missing revenue and earnings estimates. The company also disclosed that it has been the target of ongoing government investigations. According to the Washington Business Journal, these investigations have caused a dramatic increase in Eagle Bancorp’s legal fees.

Global Newswire states that these investigations involve potential wrongdoing surrounding Eagle Bancorp’s disclosure (or non-disclosure) of related party transactions, the “retirement” of certain of its officers and directors, and a potentially improper relationship with a local public official.

Eagle Bancorp has announced that it is unable to predict the outcome of these ongoing investigations. The company expects to continue to incur high legal fees for at least the rest of 2019.

On this news, shares dropped over 20% and significantly injured investors. Our firm will continue to investigate.

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David’s advocacy has generated major recoveries for consumers impacted by financial fraud. He was named to the Top 40 Under 40 by Daily Journal and a “Rising Star in Class Actions” by Law360.

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Amanda is spearheading a securities lawsuit against NantHealth concerning fraudulent statements to investors about the success of its key product.

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Gibbs Law Group’s financial fraud and securities lawyers have more than two decades of experience prosecuting fraud. Our attorneys have successfully litigated against some of the largest companies in the United States, and we have recovered more than a billion dollars on our clients’ behalf.

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