First Republic Bank (FRC)
Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against First Republic Bank (“First Republic” or the “Company”) (NYSE: FRC) and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired First Republic securities between January 14, 2021 and March 14, 2023, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case.This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.
The Complaint alleges that defendants throughout the Class Period made false and/or misleading statements as well as failed to disclose that defendants: (1) misrepresented the strength of the Company’s balance sheet and liquidity position; (2) understated the significant pressure rising interest rates posed to First Republic’s business model; (3) misrepresented the strength of the Company’s ability to deliver consistent results across different interest rate environments; (4) misrepresented the diversity of the Company’s deposit funding base; and (5) misrepresented the Company’s ability to generate NII growth and maintain stable NIM. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. You can review a copy of the Complaint and sign the certification form or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in First Republic you have until June 23, 2023 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.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.