SAN DIEGO, March 20, 2023 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating whether First Republic Bank ("First Republic" or the "Company") (NYSE: FRC) investors' losses may be recovered under the federal securities laws.
What if I purchased First Republic common stock? If you purchased First Republic common stock and suffered significant losses on your investment, join our investigation now:
Click or paste the following web address into your browser to submit your losses:
https://www.cognitoforms.com/JohnsonFistel/FirstRepublicBank
Or for more information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471
There is no cost or obligation to you.
What is Johnson Fistel investigating? On March 13, 2023, First Republic stock declined on speculation that the bank may not have sufficient liquidity, even after it secured emergency funding from other institutions. Despite the funding, Raymond James downgraded the stock, stating the risk of deposit outflows facing First Republic. In downgrading the stock, Raymond James commented, "[d]espite the added liquidity sources, we believe deposit balances will remain under pressure in the immediate near term. While we believe the bank received some deposit inflows on Thursday during the bank run at SVB, additional panic among large depositors may have driven deposit balances lower since Thursday."
What if I have relevant nonpublic information? Individuals with nonpublic information regarding the company should consider whether to assist our investigation or take advantage of the SEC Whistleblower program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or jimb@johnsonfistel.com.
Contact:
Johnson Fistel, LLP
Jim Baker, Lead Securities Analyst
Telephone: (619) 814-4471
Email: jimb@johnsonfistel.com
