An investigation on behalf of current long term investors in First Republic Bank (NYSE:FRC) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 09/29/2023 -- An investigation was announced for investors in shares of First Republic Bank (NYSE: FRC) concerning potential breaches of fiduciary duties by certain directors of First Republic Bank.
Investors who are current long term investors in First Republic Bank (NYSE: FRC) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NYSE: FRC stocks follows a lawsuit filed against First Republic Bank over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: FRC stocks, concerns whether certain First Republic Bank directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that, the defendants misrepresented the strength of First Republic's balance sheet, liquidity, and position in the market, that among other things, Defendants understated and concealed the magnitude of the risks facing the Company's business model that would result from any decision by the Federal Reserve System raising the federal funds rate, thereby undermining the value of the Company's loan and securities portfolios and liquidity, and that as a result of Defendants' misrepresentations and omissions, First Republic securities traded at artificially inflated prices between January 14, 2021, and March 14, 2023.
Those who purchased shares of First Republic Bank (NYSE: FRC) have certain options and should contact the Shareholders Foundation.
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About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.