Law Offices of Howard G. Smith announces an investigation on behalf of First Republic Bank (“First Republic” or the “Company”) (NYSE: FRC) investors concerning the Company’s possible violations of federal securities laws.
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.
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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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