NEW YORK, May 19, 2023 (GLOBE NEWSWIRE) — WHY: The Law Firm of Rosen, a global investor rights law firm, continues to investigate potential securities claims on behalf of Provident Bancorp, Inc. shareholders. PVBC This stems from allegations that Provident may have disclosed materially misleading business information to the investing public.

SO WHAT: If you have purchased Provident securities, you may be entitled to compensation without payment of out-of-pocket expenses or costs under a contingency fee arrangement. Law firm Rosen is preparing a class action lawsuit to recover investor losses.

WHAT TO DO NEXT: To participate in the potential class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=10252 or call Phillip Kim, Esq. at. toll free at 866-767-3653 or by email pkim@rosenlegal.com or case@rosenlegal.com for class action information.

WHAT IS THIS ABOUT: On November 15, 2022, Provident filed a Form NT 10-Q notification of inability to timely file Form 10-Q for the quarter ended September 30, 2022. Form NT 10-Q stated that the delay was due to “…” [Provident] will report a net loss of approximately $27.5 million for the quarter ended September 30, 2022 compared to a net income of $5.1 million for the quarter ended September 30, 2021.”

As a result of this news, Provident’s share price fell $2.20, or 21%, on unusually high trading volume to close at $7.90 on November 16, 2022.

WHY ROSES LAW: We encourage investors to select qualified advisors with a proven track record in leadership positions. Companies that issue communications often lack comparable experience, resources, or significant peer recognition. Many of these firms do not conduct securities class actions. Be wise in choosing your advisor. The law firm of Rosen represents investors around the world and focuses its practice on securities class actions and shareholder derivatives actions. Law firm Rosen has reached the largest-ever settlement in a securities class action lawsuit against a Chinese company. roses…