Robbins Arroyo LLP: Equity Bancshares, Inc. (EQBK) Misled Shareholders According to a Recently Filed Lawsuit

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    SAN DIEGO & WICHITA, Kan.–(BUSINESS WIRE)–$EQBK #ClassAction–Shareholder rights law firm Robbins
    Arroyo LLP
    announces that a purchaser of Equity Bancshares, Inc.
    (NASDAQ: EQBK) filed a class action complaint for alleged violations of
    the Securities Exchange Act of 1934 between May 11, 2018 and April 22,
    2019. Equity Bancshares provides a broad range of financial services in
    Arkansas, Kansas, Missouri, and Oklahoma.

    View this information on the law firm’s Shareholder Rights Blog:

    Equity Bancshares Accused of Misleading Investors

    According to the complaint, Equity Bancshares has been deceiving
    investors about its credit operations. Since 2018, Equity Bancshares had
    stated in various filings that its disclosure controls and procedures
    were effective. However, it failed to disclose that it actually lacked
    adequate internal controls to asses credit risk, and, as a result, was
    likely to incur significant losses for certain substandard loans. The
    truth emerged in January 2019, when Equity Bancshares disclosed that a
    credit relationship had been downgraded. On this news, Equity Bancshares
    fell more than 6% to close at $32.15 per share on January 24, 2019. In
    April 2019, Equity Bancshares disclosed that a $14.5 million provision
    for loss against a credit relationship had impacted its financial
    results for first quarter 2019. On this news, Equity Bancshares fell
    more than 16% to close at $24.71 per share on April 23, 2019, and has
    yet to recover.

    Equity Bancshares Shareholders Have Legal Options

    Concerned shareholders who would like more information about their
    rights and potential remedies can contact attorney Leo Kandinov at (800)
    350-6003, [email protected]
    or via the shareholder
    information form
    on the firm’s website.

    Robbins Arroyo LLP is a nationally recognized leader in shareholder
    rights law. The firm represents individual and institutional investors
    in shareholder derivative and securities class action lawsuits, and has
    helped its clients realize more than $1 billion of value for themselves
    and the companies in which they have invested.

    Attorney Advertising. Past results do not guarantee a similar outcome.


    Leo Kandinov
    Robbins Arroyo LLP
    5040 Shoreham Place
    Diego, CA 92122
    [email protected]
    525-3990 or Toll Free (800) 350-6003