NEW YORK, May 29, 2019 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces it has commenced an investigation of Metro Bank PLC (“Metro Bank” or “the Company”) (OTCMKTS: MBNKF) concerning possible violations of federal securities laws.
On January 23, 2019, Metro Bank issued a preliminary statement regarding its full year 2018 results. In a related conference call, CFO David Thomas Arden stated: “…we expect risk-weighted assets to be GBP 8.9 billion at the year-end, partly due to loan growth and partly due to an adjustment in the risk weighting of certain commercial loans secured on property and certain specialist buy-to-let loans. These changes…came to light following an internal review…” Then on February 26, 2019, Metro Bank reported its full year 2018 results. In a related conference call, Arden disclosed that the PRA and FCA were investigating the adjustment. Then on May 1, 2019, Metro Bank disclosed it had lost a “small number of large commercial and partnership customers.” To obtain additional information, go to:
https://www.zlk.com/pslra-1/metro-bank-plc-loss-form
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com