Pomerantz Law Firm Alerts Customers Bancorp Investors to Class Action Filing
Pomerantz LLP has recently announced the initiation of a class action lawsuit against Customers Bancorp, Inc. (NYSE: CUBI). This legal action has implications for shareholders who have experienced investment losses amid allegations of securities fraud and other unlawful business practices by the company and its leadership team.
The firm is actively seeking to connect with any investors who purchased or acquired Customers Bancorp securities during the designated Class Period. As per the announcement, affected shareholders are encouraged to reach out to Pomerantz LLP lawyer Danielle Peyton directly at [email protected] or by calling 646-581-9980. It is recommended to include personal contact information and details concerning the number of shares held when making inquiries.
Investors have until
January 31, 2025, to request the court to appoint them as Lead Plaintiff in this class action, which underscores the urgency of the matter for those impacted. Detailed information regarding the lawsuit can be accessed via Pomerantz’s official website,
pomerantzlaw.com.
Background of the Lawsuit
The class action follows critical announcements from Customers Bancorp that have ostensibly influenced its share price and raised concerns regarding corporate governance. Notably, in April 2024, the company disclosed the termination of its Chief Financial Officer, Carla A. Leibold, due to a violation of internal policies. Leibold has publicly disputed this characterization, which coincided with a significant drop in the company’s stock price. Share prices fell by $2.40 (approximately 4.89%), closing at
$46.62 per share on April 15, 2024.
Subsequent developments occurred in August 2024 when the Federal Reserve publicly issued an enforcement action against Customers Bancorp, highlighting significant deficiencies in the bank’s risk management practices, particularly around anti-money laundering regulations. Following this announcement, the company’s stock took another hit, sliding $7.22 per share to close at
$47.01 on August 8, 2024. This trend did not improve, as further disclosures related to compliance deficiencies continued to plague the firm, contributing to declines in share value.
Legal Representation and Pomerantz’s Role
Pomerantz LLP is a recognized leader in corporate class action lawsuits, particularly in matters concerning securities fraud. Established over 85 years ago by Abraham L. Pomerantz, the firm has a storied history of advocating for the rights of investors and has secured billions in settlements on behalf of aggrieved parties. With offices located in major cities worldwide, Pomerantz provides a robust platform for addressing corporate misconduct.
This class action lawsuit represents a critical moment not only for the shareholders of Customers Bancorp but also for the firm’s ongoing commitment to tackling corporate fraud. Shareholders should review their options promptly and consider joining the class action if they believe they have legitimate claims against the company.
For additional information about this lawsuit or to explore participation in the class action, shareowners should consult the Pomerantz LLP website or contact their legal team directly using the details provided earlier. The firm notes that attorney advertising applies, and prior results do not guarantee similar outcomes for all clients.
In conclusion, shareholders of Customers Bancorp are urged to take action swiftly as deadlines approach and options for legal recourse against possible securities infringements become available. The coming weeks will be crucial for those involved in this significant legal undertaking.