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Securities Class Action Filed Against Customers Bancorp

Philadelphia, Pennsylvania – A new class action lawsuit targeting Customers Bancorp (NYSE: CUBI) has been initiated on behalf of investors who acquired the company’s securities during the defined Class Period from March 1, 2024, to August 8, 2024.

CLICK HERE TO LEARN MORE ABOUT THIS LAWSUIT.

Individuals who purchased Customers Bancorp securities within the specified timeframe have the opportunity, until January 31, 2025, to seek status as a lead plaintiff representative for the class action.

Customers Bancorp, a bank holding entity situated in West Reading, Pennsylvania, is at the center of the lawsuit, which alleges that the firm made misleading statements and failed to reveal critical information regarding its operational practices. Specifically, the lawsuit claims that the company did not maintain adequate anti-money laundering protocols and consequently failed to comply with required regulatory obligations, thereby increasing its susceptibility to regulatory scrutiny.

Interested parties seeking further details on their involvement in this litigation may contact the law firm Berger Montague. Correspondence can be directed to Andrew Abramowitz at aabramowitz@bm.net or by phone at (215) 875-3015, or to Peter Hamner at phamner@bm.net, or by CLICKING HERE.

In class action suits, the lead plaintiff represents the interests of all members of the class in the ongoing legal proceedings. Generally, this role is filled by the individual or group of individuals with the greatest financial stake in the case, who also exemplify the common characteristics of the class. The lead plaintiff selects legal counsel to represent both their interests and those of the class, which must receive court approval. It is important to note that opting to be a lead plaintiff does not alter one’s ability to benefit from any potential recovery. Class members can either retain their own counsel to seek lead plaintiff status or simply remain passive without affecting their rights to recover.

Founded in 1970, Berger Montague has been at the forefront of securities class action litigation, advocating for individual and institutional investors across the United States. With offices in major cities including Philadelphia, Chicago, and San Diego, the firm continues to serve as lead counsel in a wide array of securities litigations.

To view the source version of this press release, please visit here.

Source
www.investing.com