NEW ORLEANS, March 22, 2024 /PRNewswire/ -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have untilApril 8, 2024 to file lead plaintiff applications in a securities class action lawsuit against New York Community Bancorp, Inc. ("NYCB" or the "Company") (NYSE: NYCB), if they purchased the Company's securities between March 1, 2023 and January 30, 2024, inclusive (the "Class Period"). This action is pending in the United States District Court for the Eastern District of New York.
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NYCB investors should visit us at https://claimsfiler.com/cases/nyse-nycb/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
NYCB and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On January 31, 2024, pre-market, the Company announced its 4Q 2023 financial results, disclosing a quarterly net loss of $252 million, due to "a $552 million provision for loan losses," which was "primarily attributable to higher net charge-offs" and "a significant increase in the ACL [allowance for credit losses]" coverage ratio, as well as slashing its quarterly dividend to $0.05 per common share.
On this news, the price of NYCB's shares fell $3.90, or 37.57%, to close at $6.47 per share on January 31, 2024, on unusually heavy trading volume.
The case is Lemm v. New York Community Bancorp, Inc., et al., No. 24-cv-903.
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ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
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