New York Community Bancorp, Inc. (NYCB) is currently under investigation by Faruqi & Faruqi, LLP, a national securities law firm, for potential claims against the company. Investors who suffered losses exceeding $100,000 between March 1, 2023, and February 5, 2024, are encouraged to discuss their legal rights with the firm.

The investigation stems from a federal securities class action filed against NYCB, alleging that the company and its executives violated federal securities laws. The complaint asserts that NYCB made false and/or misleading statements and/or failed to disclose critical information regarding the Signature Bank acquisition and the company’s financial standing.

According to the complaint, the Signature Bank acquisition did not immediately benefit NYCB as it necessitated compliance with enhanced prudential standards, including risk-based and leverage capital requirements, and liquidity standards. Additionally, the complaint alleges that NYCB failed to comply with these enhanced standards, overstated the quality of its commercial office loan assets, and experienced higher net charge-offs and deterioration in its commercial office portfolio than previously represented.

Investors who suffered losses and are interested in seeking the role of lead plaintiff in the federal securities class action have until April 8, 2024, to take action. Faruqi & Faruqi, LLP encourages affected investors to contact the firm directly to discuss their options. The firm, with offices in New York, Pennsylvania, California, and Georgia, has a track record of recovering hundreds of millions of dollars for investors since its establishment in 1995.

For more information about the investigation and to discuss legal rights, investors can reach out to Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Additional information is also available on the firm’s website.