Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Nov. 06, 2024 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises First Northwest Bancorp (“FNWB” or “the Company”) (NASDAQ: FNWB) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. FNWB investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: info@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On October 25, 2024, FNWB announced that its previously reported financial results for the second quarter of 2024 could no longer be relied upon due to an additional $6.6 million in charge-offs and a higher provision for consumer loans. As a result, the company restated its total provision for credit losses on loans to $8.7 million. FNWB also revealed that a material weakness existed in its internal controls over financial reporting as of June 30, 2024.
As a result of this news, FNWB’s stock price dropped by $0.23, or 2.2%, closing at $10.13 per share on October 28, 2024, causing losses for investors.
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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, NY and TX Bars
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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