#USA #New York #Customers Bancorp #Faruqi & Faruqi #LLP

Investigation into Customers Bancorp

Faruqi & Faruqi, LLP, a prominent national securities law firm, has initiated an investigation concerning potential claims for investors in Customers Bancorp, Inc. (NYSE: CUBI). This inquiry arises amidst serious allegations that the company may have engaged in misleading practices that could affect the financial interests of its shareholders. Investors are alerted to the upcoming January 31, 2025 deadline to apply for the lead plaintiff role in a federal class-action lawsuit against Customers Bancorp.

Background on the Allegations

The investigation was prompted by significant scrutiny into Customers Bancorp's compliance, especially regarding its anti-money laundering (AML) practices. On August 8, 2024, the Federal Reserve Board released a public statement detailing enforcement actions involving Customers Bancorp. The announcement highlighted major deficiencies in the bank's risk management and compliance frameworks, specifically relating to AML regulations. These shortcomings have since sparked considerable concern regarding the bank's operations and its executives’ public representations about its operational viability.

Such regulatory challenges have begun to take a toll on Customers Bancorp's stock, which plummeted 13.3% following these revelations. This stark drop underscores the gravity of the situation as investors consider their potential losses that exceed $75,000 during the specified timeframe spanning from March 1 to August 8, 2024.

Investor Participation and Legal Rights

Faruqi & Faruqi emphasizes the importance of affected investors stepping forward to safeguard their rights. Interested parties are encouraged to contact securities litigation partner James (Josh) Wilson directly for a confidential discussion regarding options available to them. Investors looking to join the class action should understand that the designation of lead plaintiff plays a crucial role in the litigation process. The lead plaintiff directs the case on behalf of all members of the class and is generally the investor with the largest financial stake in the outcome.

Furthermore, investors are reminded that participation in the group is entirely voluntary. Those who prefer to remain passive participants rather than take an active role as a lead plaintiff can still benefit from any eventual recovery.

How to Get Involved and Next Steps

To facilitate the process, Faruqi & Faruqi encourages not only investors but also individuals with insider information—such as whistleblowers or former employees—to come forward. Such insights can significantly contribute to the strength of the claims being investigated. Interested investors are urged to visit www.faruqilaw.com/CUBI or call Faruqi & Faruqi directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

Conclusion

The approaching deadline signals a critical time for investors in Customers Bancorp to assess their options. Faruqi & Faruqi has established itself as a formidable entity in the securities law arena, serving as a fervent advocate for investors’ rights. With extensive experience in recovering substantial amounts for shareholders, the firm remains committed to ensuring that all investors are informed and able to navigate this challenging situation effectively. Investors are encouraged to stay updated by following Faruqi & Faruqi on various social media platforms including LinkedIn, and X, as well as Facebook for further developments in this case.

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