Western Alliance Bancorporation: Company Investigated by the Portnoy Law Firm

Los Angeles, California, UNITED STATES

Investors can contact the law firm at no cost to learn more about recovering their losses

LOS ANGELES, March 13, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Western Alliance Bancorporation (“Western Alliance” or “the Company”) (NYSE: WAL) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Western Alliance investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

The inquiry is centered around whether the Company made inaccurate or deceptive statements and/or neglected to reveal important information to investors. Western Alliance is the topic of a Business Insider article that was released on March 10, 2023. As per the article, the Company presented financial statements that displayed a rise in deposits and solid liquidity, including $2.5 billion in cash on its balance sheet, a $13.1 billion fully collateralized credit facility, and uncommitted credit lines worth $4.6 billion. Following the publication of this piece, the stock prices of Western Alliance plummeted by over 20% on the same day. The Company's shares continued to decline in intraday trading on March 13, 2023.

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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar

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