AROW Investors Have Opportunity to Lead Arrow Financial Corporation Securities Fraud Lawsuit

LOS ANGELES, Aug. 1, 2023 /PRNewswire/ -- Glancy Prongay & Murray LLP ("GPM") announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Arrow Financial Corporation ("Arrow" or the "Company") (NASDAQ: AROW).

Class Period: March 12, 2022 – May 12, 2023
Lead Plaintiff Deadline:August 22, 2023

If you wish to serve as lead plaintiff of the Arrow lawsuit, you can submit your contact information at www.glancylaw.com/cases/Arrow-Financial-Corporation/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) Arrow maintained defective disclosure controls and procedures and internal controls over financial reporting; (2) the foregoing increased the risk that the Company could not timely file one or more of its periodic financial reports with the SEC as required by the NASDAQ's listing requirements; (3) accordingly, Arrow was at an increased risk of being delisted from the NASDAQ; (4) following the disclosure of deficiencies in the Company's disclosure controls and procedures and internal controls over financial reporting, Arrow downplayed the severity of these issues and the associated risks; and (5) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.  If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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SOURCE Glancy Prongay & Murray LLP