An investigation on behalf of current long term investors in Flagstar Bancorp Inc (NYSE:FBC) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NYSE:FBC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/08/2014 -- The Shareholders Foundation announces that an investigation on behalf of current long-term investors in shares of Flagstar Bancorp Inc (NYSE:FBC) was initiated concerning potential breaches of fiduciary duties by certain directors and officers of Flagstar Bancorp.
Investors who are current long term investors in Flagstar Bancorp Inc (NYSE:FBC) shares, have certain options and should contact the Shareholders Foundation by email at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NYSE:FBC stocks follows a lawsuit filed recently against Flagstar Bancorp Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE:FBC stocks, concerns whether certain Flagstar Bancorp officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Eastern District of Michigan the plaintiff alleges that between January 22, 2014 and August 26, 2014, Defendants made allegedly false and/or misleading statements and/or failed to disclose that dating back to 2011, the Flagstar Bancorp Inc's loss mitigation practices and default servicing operations were not in compliance with various federal consumer financial laws promulgated by the Consumer Financial Protection Bureau ("CFPB"), that Flagstar Bancorp Inc lacked proper internal controls, and that as a result of the above, Flagstar Bancorp Inc’s financial statements were materially false and misleading at all relevant times.
On August 26, 2014, Flagstar Bancorp, Inc., the holding company of Flagstar Bank, FSB (the "Bank"), announced that the Bank has commenced discussions with the Consumer Financial Protection Bureau, or CFPB, related to alleged violations of various federal consumer financial laws arising from the Bank's loss mitigation practices and default servicing operations dating back to 2011. Flagstar Bancorp Inc said that the Bank previously provided the CFPB with documents and other information concerning the Bank’s loss mitigation practices and default servicing operations in response to Civil Investigative Demands received from the CFPB. Shares of Flagstar Bancorp Inc declined from $18.50 per share on August 26, 2014 to as low as $17.26 per share on August 29, 2014 and continued to decline to as low as $15.99 per share on September 29, 2014.
On October 6, 2014, NYSE:FBC shares closed at $16.45 per share.
Those who purchased shares of Flagstar Bancorp Inc have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego