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The filed complaint alleges that Midland States Bancorp, Inc. made materially false and/or misleading statements and/or failed to disclose that: Midland States Bancorp announced its financial results for the fourth quarter of 2024 on January 23, 2025. Among other items, the Company reported a loss of $2.52 per diluted share, falling short of the Zacks Consensus Estimate of $0.70 and representing a significant year-over-year decline from earnings of $0.89 per share in the fourth quarter of 2023. Following this news, Midland States Bancorp's stock price fell over 20% on January 24, 2025.
In order to be eligible to join the MSBI class action lawsuit, you must have incurred a loss on shares of Midland States Bancorp, Inc. purchased during the class period listed above.
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