Important Notice for Customers Bancorp, Inc. (CUBI) Shareholders
New York, NY, Jan. 30, 2025 – The Gross Law Firm, a leading national securities fraud law firm, issues this notice to all persons who purchased or otherwise acquired Customers Bancorp, Inc. (CUBI) securities between March 1, 2023, and Dec. 31, 2024, inclusive (the “Class Period”).
If you are a shareholder who suffered a loss, you can join this action by contacting The Gross Law Firm as detailed at the end of this notice.
Background
Customers Bancorp, Inc. is a bank holding company headquartered in Wyomissing, Pennsylvania. The Company operates through its subsidiary, Customers Bank, which provides various commercial and retail banking services to individuals, businesses, and other financial institutions.
Allegations
The complaint alleges that during the Class Period, the defendants made false and misleading statements and failed to disclose material adverse facts about the Company’s business, operations, and financial condition. Specifically, the defendants allegedly failed to disclose:
- Inadequate risk management and internal controls regarding the Company’s loan portfolio, particularly in the energy sector;
- The impact of the COVID-19 pandemic on the Company’s loan portfolio and overall financial condition;
- The Company’s failure to disclose significant related party transactions.
Effects on Shareholders
As a result of the defendants’ alleged false and misleading statements, Customers Bancorp, Inc. (CUBI) shareholders have suffered significant losses and damages. Shareholders who purchased or otherwise acquired CUBI securities during the Class Period may be entitled to recover their losses, including any damages incurred as a result of the securities’ decline in value.
Effects on the World
The potential securities fraud case against Customers Bancorp, Inc. (CUBI) could have far-reaching implications for the banking industry as a whole. If the allegations are proven true, it could serve as a reminder of the importance of robust risk management and internal controls for financial institutions. Moreover, it could lead to increased scrutiny of the banking sector and potential regulatory action.
Contact The Gross Law Firm
If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests, please contact The Gross Law Firm by emailing the lead counsel, Brian Gross, at [email protected], by calling (212) 504-5444, or by filling out this form on our website: https://www.grosslawfirm.com/contact/
You may also contact the firm by mail at The Gross Law Firm, 125 Broad Street, 46th Floor, New York, NY 10004.
The Gross Law Firm represents investors worldwide, and the firm’s securities fraud litigation focuses on misrepresentations and other violations of the federal securities laws. The firm’s attorneys have extensive experience in prosecuting securities fraud cases and in achieving significant recoveries for investors.
Conclusion
The Gross Law Firm encourages Customers Bancorp, Inc. (CUBI) shareholders who purchased or otherwise acquired CUBI securities during the Class Period to contact the firm regarding possible lead plaintiff appointment. If you wish to learn more about this class action, please contact The Gross Law Firm today.
This notice is not a solicitation to file a lawsuit and is not a guarantee that a class action will be filed. The Gross Law Firm represents its clients only after signing a retainer agreement. The filing of this notice does not create an attorney-client relationship and does not provide legal advice. The Gross Law Firm is not responsible for the content of any third-party website or the privacy policy of such websites, and the inclusion of a link to another website is not intended to imply any endorsement of the linked site or its content.
