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LOS ANGELES, April 14, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Provident Bancorp, Inc. (NASDAQ: PVBC ) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Provident investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
Provident submitted a Form NT 10-Q Notification on November 15, 2022, indicating that they were unable to file their Form 10-Q for the quarter ending September 30, 2022, on time. The delay was attributed to the company's projection of a net loss of approximately $27.5 million for the quarter, compared to a net income of $5.1 million for the same period in the previous year. As a result of this announcement, Provident's stock price decreased by 21%, or $2.20 per share, to close at $7.90 on November 16, 2022. This decline in stock price was accompanied by an unusually high trading volume.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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