SAN DIEGO, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating whether New York Community Bancorp, Inc. (“NYCB” or the “Company”) (NYSE: NYCB), any of its executive officers or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focuses on investors’ losses and whether they may be recovered under federal securities laws.
What if I purchased NYCB securities? If you purchased securities and suffered significant losses on your investment, join our investigation now:
Click Here to Join the Investigation
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 January 31, 2024, Moody’s said it had placed NYCB on review for a downgrade, which could put the bank into the “junk” territory. The downgrade review resulted after NYCB reported a fourth quarter 2023 net loss of $252 million. This loss was significantly due to “a $552 million provision for loan losses,” which was “primarily attributable to higher net charge-offs[.]” Following this news, NYCB stock closed down 38% on January 31, 2024.
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.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
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Contact:
Johnson Fistel, LLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
jimb@johnsonfistel.com or fjohnson@johnsonfistel.com
