#United States #New York #Levi & Korsinsky #Customers Bancorp #CUBI

Customers Bancorp, Inc. Class Action Lawsuit: Important Update for Investors

Levi & Korsinsky, LLP has recently announced a crucial update for investors of Customers Bancorp, Inc. (NYSE: CUBI). A class action lawsuit has been filed, addressing alleged securities fraud that occurred between March 1, 2024, and August 8, 2024. Stakeholders are urged to be mindful of the deadline—January 31, 2025—to request to be appointed as the lead plaintiff in the ongoing case. The firm emphasizes that participation in any potential recovery does not necessitate serving as the lead plaintiff.

Background of the Lawsuit

The complaint filed against Customers Bancorp alleges several serious infractions. It contends that the defendants, associated with the company's operations, made misleading or false statements regarding the company’s financial practices and regulatory compliance. Specifically, the lawsuit claims that:

1. Inadequate Anti-Money Laundering Practices: Customers Bancorp has reportedly failed to maintain sufficient anti-money laundering controls, thereby exposing the company and its investors to significant risks.
2. Non-compliance with Legal Obligations: As a direct consequence of the alleged inadequacies, the firm allegedly did not comply with its legal obligations, heightening its exposure to regulatory scrutiny and potential penalties.
3. Misleading Information: Statements made by the defendants regarding the company’s business operations and future prospects were flagged as materially false and misleading, lacking a reasonable basis. This has raised concerns regarding the overall portrayal of Customers Bancorp’s fiscal health.

Action Steps for Affected Investors

If you have sustained a loss in Customers Bancorp securities during the identified time frame and wish to seek compensation, the clock is ticking. An imperative step is to request the court's appointment as lead plaintiff by the set deadline of January 31, 2025. Investors can find more detailed information and contact a member of the Levi & Korsinsky team through the link provided in their announcement.

No Financial Obligation

One encouraging aspect of this class action is that those who qualify as class members may be eligible for compensation without upfront costs or financial obligations. This means that any potential recovery from the lawsuit should not come at a cost to the individual investors involved. The firm’s policy reinforces that participation can happen without incurring any out-of-pocket expenses.

About Levi & Korsinsky, LLP

Levi & Korsinsky, LLP carries a strong reputation in the realm of securities litigation. For over 20 years, the firm has been on the forefront of representing aggrieved shareholders, successfully obtaining hundreds of millions in settlements and verdicts across various high-stakes cases. With a dedicated team of over 70 professionals, they boast extensive expertise in complex securities litigation.

The firm has repeatedly been recognized in ISS Securities Class Action Services’ Top 50 Report as a leading player in the securities litigation space within the United States. They are well-equipped to advocate for investors who have faced losses due to corporate mismanagement or deceitful practices.

Final Remarks

The ongoing class action lawsuit against Customers Bancorp, Inc. serves as a critical reminder for investors to stay informed and proactive regarding their rights. As the January 31, 2025, deadline approaches, those affected are encouraged to reach out to Levi & Korsinsky, LLP for guidance or clarification on the process. For more information, contact Joseph E. Levi, Esq., or explore the firm's resources listed below to ensure that your rights as an investor are protected.

Contact Information:
Joseph E. Levi, Esq.
Levi & Korsinsky, LLP
33 Whitehall Street, 17th Floor
New York, NY 10004
Email: [email protected]
Phone: (212) 363-7500

Stay vigilant and make sure you do not miss out on your opportunity for recovery!