LOS ANGELES, April 12, 2023 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Signature Bank ("Signature Bank" or the "Company") (NASDAQ: SBNY, SBNYP).
Class Period: April 23, 2020 – March 12, 2023
Lead Plaintiff Deadline:May 15, 2023
If you are a shareholder who suffered a loss, click here to participate.
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) Signature Bank did not have the strong fundamentals that it represented itself as having in the days immediately prior to its takeover, or otherwise took action that left it susceptible to a takeover by the DFS; (2) as a result, it became a target for regulatory action by the DFS, and (3) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, 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.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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SOURCE The Law Offices of Frank R. Cruz, Los Angeles
