NEW YORK, May 5, 2023 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of First Republic Bank (NYSE: FRC).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/first-republic-class-action-loss-submission-form/?id=38887&from=4
The lawsuit seeks to recover losses for shareholders who purchased First Republic between January 14, 2021 and March 14, 2023.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until June 23, 2023 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to the complaint, Defendants misrepresented the strength of the Company's balance sheet and liquidity position, while also understating the significant pressure rising interest rates posed to First Republic's business model. Defendants also misrepresented the strength of the Company's ability to deliver consistent results across different interest rate environments, the diversity of the Company's deposit funding base, and the Company's ability to generate net interest income ("NII") growth and maintain stable net interest margin ("NIM").
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887
View original content:https://www.prnewswire.com/news-releases/frc-shareholder-alert-jakubowitz-law-reminds-first-republic-shareholders-of-a-lead-plaintiff-deadline-of-june-23-2023-301816747.html
SOURCE Jakubowitz Law
