PROVIDENT BANCORP INVESTOR ALERT : 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
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NEW YORK, Jan. 24, 2023 /PRNewswire/ -- 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.

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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.

Attorney Advertising.  The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com).  Prior results do not guarantee or predict a similar outcome with respect to any future matter.  We welcome the opportunity to discuss your particular case.  All communications will be treated in a confidential manner.

SOURCE Faruqi & Faruqi, LLP

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