SAN FRANCISCO, March 15, 2023 (GLOBE NEWSWIRE) — Hagens Berman urges Signature Bank (NASDAQ: SBNY) investors who suffered substantial losses to submit your losses now.
Signature Bank (SBNY) Securities Fraud Class Action:
The litigation focuses on Signature Bank’s repeated assurances that it was in a strong financial position.
According to the complaint, Defendants made misleading statements and failed to disclose that: (1) Signature Bank did not have the strong fundamentals that it represented itself as having; and (2) the bank took actions that left it susceptible to a takeover by the New York Department of Financial Services (“DFS”).
Investors learned the truth on Mar. 12, 2023, when the DFS announced that, to protect Signature Bank depositors, DFS had taken possession of the bank and appointed the Federal Deposit Insurance Corporation as the bank’s receiver.
“We’re focused on investors’ losses and proving Signature Bank lied about the sufficiency of its liquidity and regulatory capital,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Signature Bank and have substantial losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Signature Bank should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected]
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Contact:
Reed Kathrein, 844-916-0895
