Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Nov. 17, 2022 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises Provident Bancorp (“Provident”) (NASDAQ: PVBC) investors that the law firm has initiated an investigation on behalf of investors that lost money on their Provident stock. Provident investors are encouraged to contact the firm to discuss their legal rights.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: [email protected], 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.
On November 17, 2022, analyst firm The Bear Cave revealed that Provident potentially has ballooning bad debt expenses relating to some of its cryptocurrency related loans and transactions. The report also highlights that after Provident’s Chief Lending Officer retired in November 2021, the Company disclosed “a $984,000 expense relating to an agreement between the Bank and the President and Chief Lending Officer in connection with his retirement.”
On this news, Provident stock fell sharply during after-hours trading on November 17, 2022.
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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