ited States District Court for the Southern District of New York.
The lawsuit alleges that NYCB and certain of its executives violated federal securities laws. Specifically, the complaint alleges that during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) NYCB’s non-performing loans had materially increased in size as the Company recruited and increased lending to riskier borrowers; (ii) the Company’s allowance for loan losses was inadequate to cover the resulting loan losses; (iii) as a result, NYCB was likely to experience higher loan losses; (iv) NYCB was reasonably likely to write-off certain of its loans; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you are an NYCB shareholder and have suffered losses as a result of the alleged misconduct, you may be entitled to receive compensation by serving as a lead plaintiff. KSF encourages anyone who is interested in learning more about their rights or has information regarding this case to contact KSF, without obligation or cost to you.
Kahn Swick & Foti, LLC (“KSF”) is one of the nation’s premier boutique securities litigation law firms.
Though the information contained in this article seems very technical, it is actually quite important for stockholders to be aware of their rights. If you believe you may have been affected by the alleged misconduct, it is important to seek legal advice. It is important to note that just because a securities class action lawsuit is filed does not mean that the defendant is guilty. This litigation process allows for both sides to present evidence and arguments to determine the truth.
KSF and KSF partner, Charles C. Foti, Jr., are dedicated to protecting the rights of shareholders and have significant experience in prosecuting securities litigation. They have recovered many millions of dollars for shareholders. When it comes to securities class action lawsuits, it can be difficult for individual shareholders to know what steps to take. That’s where experienced and knowledgeable attorneys like those at KSF can help. They can guide you through the legal process and help you understand what options are available to you.
For more information about this case, visit the KSF website or contact them directly. Remember, if you believe you may have suffered investment losses due to the alleged misconduct, it never hurts to seek legal advice to understand your rights and potential options.
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