Customers Bancorp, Inc. Stockholder Notice: Shareholder Rights Law Firm Robbins LLP Reminds Investors of the Class Action Against CUBI

Core Viewpoint - A class action lawsuit has been filed against Customers Bancorp, Inc. for failing to disclose inadequate anti-money laundering practices, leading to regulatory risks and stock price declines during the specified period [1][2]. Group 1: Allegations and Regulatory Issues - The lawsuit alleges that Customers Bancorp did not disclose its inadequate anti-money laundering practices, resulting in non-compliance with legal obligations and increased regulatory risk [2]. - On April 12, 2024, the company announced the firing of its CFO for violating company policy, causing the stock price to drop nearly 5% to close at $46.62 on April 15, 2024 [3]. - On August 8, 2024, the Federal Reserve identified significant deficiencies in the bank's risk management and compliance with anti-money laundering laws, leading to a stock price decline of approximately 15% [4]. Group 2: Consent Order and Further Implications - On the same day, Customers Bancorp disclosed entering a consent order with the Commonwealth of Pennsylvania, which identified deficiencies related to unsafe banking practices concerning BSA/AML requirements, resulting in further declines in stock price [5]. - Shareholders interested in participating in the class action must submit their application to the court by January 31, 2025, to serve as lead plaintiff [6]. Group 3: Legal Representation and Company Background - Robbins LLP, the law firm handling the case, operates on a contingency fee basis, meaning shareholders incur no fees or expenses [7]. - Robbins LLP has a history of advocating for shareholder rights and has recovered over $1 billion for shareholders since its inception in 2002 [7].