PHILADELPHIA, Dec. 26, 2024 (GLOBE NEWSWIRE) — National law firm Berger Montague PC informed investors that it has filed a lawsuit against CUSTOMERS BANCORP, INC. (Customers Bancorp (NYSE:) or the Company) (NYSE: CUBI) on behalf of purchasers of CUSTOMERS BANCORP securities between March 1, 2024 and August 8, 2024inclusive (the Class Stage).

Investors who suffered losses from CUSTOMERS BANCORP (NYSE: CUBI ) investments can follow the link below for more information about the lawsuit:

CLICK HERE to learn more about the lawsuit.

Investors who purchased or acquired securities of CUSTOMERS BANCORP during the Class Period may, not exceed JANUARY 31, 2025seek to be appointed as the lead plaintiff representing the class.

Headquartered in West Reading, PA, Customers Bancorp is a bank holding company.

On April 12, 2024, Customers Bancorp announced that the CFO, defendant Carla A. Leibold, was terminated for violating Customers Bancorp policy. On this news, the stock price of Customers Bancorp fell $2.40 per share “almost 5%” from the closing price of $49.02 per share on April 12, 2024 to the closing price of $46.62 per share on April 15, 2024.

Then, on August 8, 2024, the Federal Reserve announced enforcement action against Customers Bancorp. This announcement reveals that the Federal Reserve has identified significant deficiencies relating to the Bank’s risk management practices and compliance with applicable laws, rules, and regulations relating to anti-money laundering (˜AML’), including the Bank Secrecy Act (˜BSA’), according to the complaint.

On this news, Customers Bancorp’s stock price fell $7.22 per share, or more than 13%, from a closing price of $54.23 per share on August 7, 2024 to a closing price of $47.01 per share on August 8, 2024.

Shares fell further after market hours on August 8, 2024, Customers Bancorp disclosed a consent order with the Commonwealth of Pennsylvania, Department of Banking and Securities, Bureau of Bank Supervision, which said that these deficiencies give the Bureau reason to believe that the The bank engaged in unsafe or unsound banking practices related to BSA/AML Requirements.

For more information or to learn how to participate in this litigation, please contact Berger Montague: Andrew Abramowitz at [email protected] or (215) 875-3015, or Peter Hamner at [email protected], or CLICK HERE.

The lead plaintiff is a representative party who acts on behalf of all class members in managing the litigation. The lead plaintiff is usually the investor or a small group of investors who have the largest financial interest and who are also substantial and typical of the proposed class of investors. The lead plaintiff will select an attorney to represent the lead plaintiff and the class and these attorneys, if approved by the court, will be lead or class counsel. Your ability to share in any recovery will not, however, be affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or participate in any recovery achieved in this case. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of his or her choosing, or may choose not to and remain an inactive member of the class.

Berger Montaguewith offices in Philadelphia, Minneapolis, Delaware, Washington, DC, San Diego, San Francisco and Chicago, pioneered the securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for more than five decades and served as lead counsel in courts throughout the United States.

Contacts:

Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
[email protected]

Peter Hamner
Berger Montague PC
[email protected]