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INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Provident Bancorp, Inc. and Encourages Inv

LOS ANGELES , November 29 /Businesswire/ - The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Provident Bancorp, Inc. (“Provident” or “the Company”) (NASDAQ: PVBC) for violations of the securities laws.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Provident announced on November 15, 2022, that it would fail to file its quarterly financials for Q3 while also disclosing an estimated net loss of about $27.5 million. The Company blames its losses on “due to the recent decline in the cryptocurrency mining industry.” Based on this news, shares of Provident fell by almost 22% on the next day.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.

The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.


STORY TAGS: California, Class Action Lawsuit, Professional Services, Legal, United States, North America, Lawsuit,

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