Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Feb. 29, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises New York Community Bancorp, Inc. ("NYCB" or the "Company") (NYSE: NYCB) investors that a lawsuit was filed on behalf of investors that purchased NYCB securities between March 1, 2023 and January 30, 2024, both dates inclusive (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 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 legal complaint asserts that during the Class Period, the Defendants did not inform investors about several critical issues: (1) the company was facing an increase in net charge-offs and a decline in the quality of its office portfolio; (2) as a consequence, it was likely that NYCB would experience higher loan losses; (3) due to these issues and NYCB's classification as a Category IV bank, there was a reasonable likelihood that the company would need to augment its allowance for credit losses; (4) these developments would negatively impact the company's financial results; (5) in an effort to conserve capital, NYCB planned to lower its quarterly common dividend to $0.05 per common share; and (6) as a result of these challenges, the Defendants' optimistic statements regarding the company's business operations, and future prospects were significantly misleading and/or lacked a solid foundation.
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The Portnoy Law Firm represents investors in pursuing claims 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
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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