The Law Offices of Frank R. Cruz announces an investigation of First Republic Bank (“First Republic” or the “Company”) (NYSE: FRC) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On March 13, 2023, First Republic led a decline in bank shares over concerns that it may not have sufficient liquidity, even after securing emergency funding from other institutions. Raymond James downgraded the stock, stating that, “[d]espite the added liquidity sources, we believe deposit balances will remain under pressure in the immediate near term.”
On this news, First Republic’s stock price fell $50.55, or 61.8%, to close at $31.21 per share on March 13, 2023, thereby injuring investors.
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If you purchased First Republic securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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