Individuals and entities who purchased stock in the company listed below (the "Eligible Security") during the corresponding Relevant Period and suffered a loss as a result of the conduct described in the Complaint, may be eligible for a distribution from the Eagle Bancorp Fair Fund (the "Fair Fund").

In addition to reviewing the information on this website, you should review the Distribution Plan Notice and the Distribution Plan approved by the Court, both of which you can find on the “Important Documents” tab on this website.

You should visit this website often to get the most up-to-date information on the Fair Fund.

Overview

On August 16, 2022, the Commission issued a Corrected Order Instituting Cease-and-Desist Proceedings, Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order (the “Order”) against Eagle Bancorp, Inc. (“Eagle” or “Respondent”). In the Order, the Commission found that Eagle made material misstatements and omissions about related party loans that Eagle’s principal subsidiary, EagleBank, extended to family trusts affiliated with Eagle’s former Chairman, CEO, and President, Ronald D. Paul (“Paul”), and to other related parties. From March 2015 through April 2018, Eagle failed to include these undisclosed loans in the related party loan balances included in its annual reports and proxy statements filed with the Commission. Eagle and Paul also made false statements regarding the nature of the loans in two press releases. Based on this conduct, the Commission found that Eagle violated Sections 1 Securities Act Rel. No. 11092 (Aug. 16, 2022). 2 17(a)(2) and 17(a)(3) of the Securities Act, and Sections 13(a), 13(b)(2)(A), 13(b)(2)(B) and 14(a) of the Exchange Act and Rules 12b-20, 13a-1, and 14a-9 thereunder.

Investors who purchased or acquired the Security between March 2, 2015, and July 17, 2019, inclusive, suffered losses as a result of Eagle’s non-disclosure of related-party loans, which caused artificial inflation in the price of the Security and price drops surrounding corrective disclosures.

The Commission ordered Eagle to pay $2,600,000 in disgorgement, $750,493 in prejudgment interest, and a $10,000,000 civil money penalty, for a total of $13,350,493, to the Commission. In its order, the Commission also created a Fair Fund, pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, so the penalties paid, along with the disgorgement and interest paid, could be distributed to harmed investors (the “Fair Fund”). The Commission further ordered that the Fair Fund may be combined with any fund established for the benefit of harmed investors in SEC v. Ronald D. Paul, 1:22-cv-06985 (S.D.N.Y.) (the “Related Action”). The Fair Fund consists of the $13,350,493 collected from the Respondent in this matter and the $431,216 collected in the Related Action. The Fair Fund has been deposited in a Commission-designated account at the U.S. Department of the Treasury, and any accrued interest will be added to the Fair Fund.

Please read the Order to fully understand your rights and options. Copies of the Order and Claim Form can be found in the menu at the top of this page.

How do I obtain more information?

Detailed information about the Settlement is contained in the Notice, a copy of which can be found in the menu at the top of this page. Additional information can also be obtained by contacting the Fund Administrator by calling toll-free 1-888-995-0214 or emailing info@eaglebancorpfairfund.com or mailing a letter to:

Eagle Bancorp Fair Fund
c/o JND Legal Administration
PO Box 91487
Seattle, WA 98111

Inquiries should NOT be directed to the Court or the Clerk of the Court.