Sign In  |  Register  |  About Walnut Creek Guide  |  Contact Us

Walnut Creek, CA
September 01, 2020 1:43pm
7-Day Forecast | Traffic
  • Search Hotels in Walnut Creek Guide

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Shareholder Alert: Robbins LLP Informs Investors of Class Action Against Signature Bank (SBNY)

The Class: Robbins LLP informs investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Signature Bank (NASDAQ: SBNY) securities between March 2, 2023 and March 12, 2023, for violations of the Securities Exchange Act of 1934. Signature Bank purports to be a “New York-based full-service commercial bank with 40 private client offices located throughout the metropolitan New York area, as well as those in Connecticut, California, Nevada and North Carolina."

What Now: Similarly situated shareholders may be eligible to participate in the class action against Signature Bank. Shareholders who want to act as lead plaintiff for the class must file their papers by May 15, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. For more information, click here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

What is this Case About: Signature Bank (SBNY) Mislead Investors Regarding its Business Prospects

According to the complaint, on March 2 and 9, 2023, defendants touted the stability of its business model, diversified deposit mix, and high level of capital. These statements were false, however. On March 12, 2023, the New York Department of Financial Services ("DFS") took possession of Signature Bank and trading in the Company's shares were halted, essentially rendering the Company's shares illiquid and valueless given the bank's failure.

Defendants failed to disclose that Signature Bank did not have the strong fundamentals that it represented itself as having in the days immediately prior to its takeover, or otherwise took action that left it susceptible to a takeover by the DFS, and as a result, it became a target for regulatory action by the DFS.

Contact us to learn more:

Aaron Dumas

(800) 350-6003

adumas@robbinsllp.com

Shareholder Information Form

About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. To be notified if a class action against Signature Bank settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.

Attorney Advertising. Past results do not guarantee a similar outcome.

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 WalnutCreekGuide.com & California Media Partners, LLC. All rights reserved.