Provident Bancorp Investor Alert
12/22/2022, Vancouver Canada · V6E 4A6 // KISS PR Brand Story PressWire //
Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Provident Bancorp To Contact Him Directly To Discuss Their Options
New York, New York--(Newsfile Corp. - December 22, 2022) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Provident Bancorp, Inc. (“Provident Bancorp” or the “Company”) (NASDAQ: PVBC).
If you suffered losses exceeding $50,000 investing in Provident Bancorp stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/PVBC.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
On November 15, 2022, Provident announced that it would be unable to timely file its quarterly report for third quarter 2022, but disclosed that it currently estimates a net loss of approximately $27.5 million. The Company explained that is still evaluating the actual level of losses “due to the recent decline in the cryptocurrency mining industry.”
On this news, Provident’s stock price fell $2.20, or 21.8%, to close at $7.90 per share on November 16, 2022, thereby injuring investors.
Then, on November 17, 2022, The Bear Cave issued a report alleging that Provident has potentially ballooning bad debt expenses relating to some of its cryptocurrency related loans and transactions.
On this news, Provident’s stock price fell $0.49, or 6%, to close at $7.45 per share on November 18, 2022, thereby injuring investors further.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/148841
Source: Newsfile Corp.
Release ID: 474876
Original Source of the original story >> Provident Bancorp Investor Alert
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