NEW YORK, March 19, 2023 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Provident Bancorp, Inc. PVBC based on 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 expenses or costs through 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 prospective class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=10252 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email pkim@rosenlegal.com or cases@rosenlegal.com for information about the Class Action.

WHAT IS THIS ABOUT: On November 15, 2022, Provident filed a notification on Form NT 10-Q that the Form 10-Q for the quarter ended September 30, 2022 could not be filed on time. Form NT 10-Q stated that the delay was due to “estimates that [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 track record in leadership positions. Frequently, companies that issue notices do not have comparable experience, resources, or meaningful recognition from peers. Many of these firms do not conduct securities class action lawsuits. Be wise in choosing a lawyer. The Rosen Law Firm represents investors worldwide and focuses its practice on securities class actions and shareholder derivatives litigation. Rosen Law Firm has achieved the largest-ever settlement of a securities class action lawsuit against a Chinese company. Law of Roses…