Philadelphia, Pennsylvania--(Newsfile Corp. - February 19, 2025) - Berger Montague advises shareholders of CUSTOMERS BANCORP, INC. (NYSE: CUBI) about an investigation into Customers Bancorp's Board of Directors for potential breaches of fiduciary duties to the company and its shareholders.
Shareholders of CUSTOMERS BANCORP may learn more about this investigation by contacting Berger Montague: Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Peter Hamner at phamner@bm.net, or CLICK HERE.
Headquartered in West Reading, PA, Customers Bancorp is a bank holding company.
On August 8, 2024, the Federal Reserve announced an enforcement action against Customers Bancorp. This announcement revealed that the Federal Reserve had "identified significant deficiencies related to the Bank's risk management practices and compliance with the applicable laws, rules, and regulations relating to anti-money laundering ('AML'), including the Bank Secrecy Act ['BSA']."
After market hours on the same day, Customers Bancorp disclosed a consent order by the Commonwealth of Pennsylvania, Department of Banking and Securities, Bureau of Bank Supervision, stating that "these deficiencies give the Bureau reason to believe that the Bank had engaged in unsafe or unsound banking practices relating to BSA/AML Requirements."
Whistleblowers: Persons with non-public information regarding Customers Bancorp are encouraged to confidentially assist Berger Montague's investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241431
