NEW YORK, March 27, 2024 /PRNewswire/ — Levi & Korsinsky, LLP notifies investors in New York Community Bancorp, Inc. (“New York Community Bancorp” or the “Company”) (NYSE: NYCB) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of New York Community Bancorp investors who were adversely affected by alleged securities fraud between March 1, 2023 and February 5, 2024. Follow the link below to get more information and be contacted by a member of our team:
https://zlk.com/pslra-1/new-york-community-bancorp-lawsuit-submission-form?prid=72788&wire=4
NYCB investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) the Company was experiencing higher net charge-offs and deterioration in its office portfolio; (2) as a result, NYCB was reasonably likely to incur higher loan losses; (3) as a result of the foregoing and NYCB’s status as Category IV bank, the Company was reasonably likely to increase its allowance for credit losses; (4) the Company’s financial results would be adversely affected; (5) to preserve capital, the Company would reduce quarterly common dividend to $0.05 per common share; and (6) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
WHAT’S NEXT? If you suffered a loss in New York Community Bancorp during the relevant time frame, you have until April 8, 2024 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP
