Investors Warned of Class Action Suit Against Customers Bancorp Amid Allegations of Securities Fraud

Shareholder Alert: Customers Bancorp Under Fire for Class Action Lawsuit

A recent announcement from Pomerantz LLP has alerted investors about a class action lawsuit against Customers Bancorp, Inc. (NYSE: CUBI). The lawsuit raises serious concerns regarding allegations of securities fraud and other questionable practices by the company and some of its executives. Investors who feel affected by recent developments concerning Customers Bancorp are encouraged to act promptly, as they have until January 31, 2025, to potentially become lead plaintiffs in this pressing case.

The Background of the Case

The class action comes on the heels of alarming disclosures made by Customers Bancorp. On April 12, 2024, the company revealed the dismissal of their Chief Financial Officer, Carla A. Leibold. The reason cited was a violation of company policy, though Ms. Leibold has publicly disputed this characterization. The fallout from this development was immediate and stark; on April 15, the company's stock price dropped by $2.40, reflecting a decline of 4.89%, closing at $46.62 per share.

The situation escalated further on August 24, 2024, when the Federal Reserve released details of an enforcement action against Customers Bancorp. The report highlighted significant deficiencies in the company's risk management practices and adherence to anti-money laundering regulations. Following this announcement, the stock experienced another significant decline, falling $7.22 or 13.31%, to settle at $47.01 per share on the following trading day.

Finally, on August 8, 2024, Customers Bancorp faced additional repercussions with a consent order from the Pennsylvania Department of Banking and Securities. This order addressed failures in compliance risk management and was linked to the company's handling of digital assets and other banking practices. In response to this news, their stock price dropped again, closing at $45.93 per share on August 9, reflecting a decrease of $1.08 or 2.3%.

How to Get Involved

Pomerantz LLP is actively seeking shareholders who may have incurred losses during this period. Those interested in being a part of this class action suit can reach out to Danielle Peyton at the provided contact details, ensuring to include their share purchase information and personal contact details.

This lawsuit exemplifies a critical challenge for Customers Bancorp and serves as a reminder of the importance of compliance and transparency in financial practices. Investors should stay informed about any developments regarding this case, considering the potentially significant implications for the company's future and their investments.

For more information on joining the class action, investors can visit Pomerantz Law Firm's website and view the full complaint. As legal proceedings unfold, remaining vigilant about ongoing updates is crucial for affected shareholders.

About Pomerantz LLP

Pomerantz LLP ranks among the foremost law firms dealing with corporate, securities, and antitrust litigation. Founded by Abraham L. Pomerantz, the firm has a rich history that spans more than 80 years in advocating for victims of securities fraud and corporate misconduct. With offices in major cities including New York, Chicago, and Los Angeles, Pomerantz continues to uphold its mission of fighting for justice on behalf of its clients.

As the dust settles around Customers Bancorp, the outcome of this class action will not only affect individual shareholders but may also impact investor confidence in the company's management and operational integrity moving forward.