NEW YORK, Aug. 3, 2020 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of S&T Bancorp, Inc. (“S&T” or the “Company”) (NASDAQ: STBA). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether S&T and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On July 30, 2020, S&T issued a press release announcing the Company’s financial results for the second quarter of 2020. Among other results, S&T announced a net loss of $33.1 million, or $0.85 per diluted share, compared to net income of $26.1 million, or $0.76 per diluted share, for the same period in the prior year.
On this news, S&T’s stock price fell $2.65 per share, or 11.14%, to close at $21.14 per share on July 30, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE Pomerantz LLP