Faruqi & Faruqi, LLP Investigates Claims Against Customers Bancorp for Investor Losses

Investigation into Customers Bancorp

Faruqi & Faruqi, LLP, a well-respected national securities law firm, is currently conducting an investigation into potential claims for investors who suffered significant losses in Customers Bancorp, Inc. This investigation stems from recent findings that the company's executives allegedly violated federal securities laws, leaving many investors vulnerable to financial losses.

Context of the Investigation

According to the firm, the investigation focuses on those who experienced losses of over $75,000 between March 1, 2024, and August 8, 2024. Faruqi & Faruqi is particularly interested in speaking with these individuals to discuss their legal rights and options moving forward. The attorneys at the firm encourage affected investors to reach out directly to discuss the timeframe for seeking the role of lead plaintiff in a federal securities class action lawsuit that has been filed against Customers Bancorp.

On August 8, 2024, a major announcement from the Federal Reserve Board revealed significant deficiencies in Customers Bancorp’s risk management practices, particularly regarding compliance with anti-money laundering regulations. This public disclosure negatively impacted the stock value of Customers Bancorp, with a sharp decline of 13.3% in share price that day. The information unveiled by the Federal Reserve purportedly highlights the company's inadequate anti-money laundering protocols and pointed to a pattern of misleading statements about the company's operations and regulatory compliance.

The Role of Lead Plaintiff

In class action lawsuits, the lead plaintiff is a crucial role, typically filled by an investor who has the most substantial financial interest in the matter at hand and is representative of the overall class. Faruqi & Faruqi is prepared to assist any member wishing to apply for this role or simply to remain involved as an absent class member. It's important to note that the choice to become a lead plaintiff, or not, does not affect a member's ability to recover damages.

Call to Action for Investors

Faruqi & Faruqi urges anyone who may have information regarding Customers Bancorp's business practices, including whistleblowers or former employees, to come forward. Sharing such information could be vital for the ongoing investigation and any future legal proceedings that arise from this situation.

For more detailed information about the class action and how to proceed, Investors can visit their dedicated website or directly contact James (Josh) Wilson at Faruqi & Faruqi at 877-247-4292 or 212-983-9330 (Ext. 1310). As the investigation develops, updates will be provided on LinkedIn, Facebook, and X (formerly Twitter).

Faruqi & Faruqi, LLP has a significant track record, having recovered hundreds of millions of dollars for investors since its inception in 1995, and aims to protect the rights and investments of individuals within the financial markets.