FRCB LAWSUIT ALERT: Levi & Korsinsky Notifies First Republic Bank Investors of a Class Action Lawsuit and Upcoming Deadline
NEW YORK, June 23, 2023 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP notifies investors in First Republic Bank (“First Republic” or the “Company”) (OTC Other: FRCB) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of First Republic investors who were adversely affected by alleged securities fraud between January 14, 2021 and April 27, 2023. Follow the link below to get more information and be contacted by a member of our team:
FRCB investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
CASE DETAILS: According to the complaint, Defendants misrepresented the strength of the Company’s balance sheet and liquidity position, while also understating the significant pressure rising interest rates posed to First Republic’s business model. Defendants also misrepresented the strength of the Company’s ability to deliver consistent results across different interest rate environments, the diversity of the Company’s deposit funding base, and the Company’s ability to generate net interest income (“NII”) growth and maintain stable net interest margin (“NIM”).
WHAT’S NEXT? If you suffered a loss in First Republic during the relevant time frame, you have until June 23, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 4th Floor Suite #427
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171