NEW
YORK, May 5, 2023 /PRNewswire/ -- Jakubowitz Law
announces that a securities fraud class action lawsuit has
commenced on behalf of shareholders of First Republic Bank (NYSE:
FRC).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/first-republic-class-action-loss-submission-form/?id=38887&from=4
The lawsuit seeks to recover losses for shareholders who
purchased First Republic between January 14,
2021 and March 14, 2023.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
June 23, 2023 to petition the
court. Your ability to share in any recovery doesn't require that
you serve as a lead plaintiff.
According to the complaint, Defendants misrepresented the
strength of the Company's balance sheet and liquidity position,
while also understating the significant pressure rising interest
rates posed to First Republic's business model. Defendants also
misrepresented the strength of the Company's ability to deliver
consistent results across different interest rate environments, the
diversity of the Company's deposit funding base, and the Company's
ability to generate net interest income ("NII") growth and maintain
stable net interest margin ("NIM").
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities fraud. Attorney
advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887
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SOURCE Jakubowitz Law