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id: 739, Created by Stan Vick, Scout
Provident Bancorp (PVBC) Fail-to-File Case
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- Provident Bancorp failed timely file the 10-Q form with SEC.
- $PVBC fell 21%, damaging shareholders.
- Investors may suspect Provident and Accountables of misleading and negligence which led to investment losses.
On November 15, 2022, Provident Bancorp, Inc. (NASDAQ: PVBC) filed a Form NT 10-Q Notification of inability to timely file Form 10-Q for the quarter ended September 30, 2022. The Form NT 10-Q stated the delay was due to "estimates that Provident]will report net loss of approximately $27.5 million for the quarter ended September 30, 2022, compared to net income of $5.1 million for the quarter ended September 30, 2021."
On this news, $PVBC fell 21%, damaging investors.
Taking appeared facts into account, Investors may have reasons to suspect Provident and Accountables of misleading and negligence which led to investment losses.
Failure to Disclose,
Shock Event Date
15 November 2022