The Bancorp(US:TBBK) Prnewswireยท2025-01-23 18:57Legal Investigation and Class Action - Faruqi & Faruqi, LLP is investigating potential claims against Customers Bancorp for alleged violations of federal securities laws [2] - The complaint alleges that Customers Bancorp made false and/or misleading statements and failed to disclose inadequate anti-money laundering practices, non-compliance with legal obligations, and heightened regulatory risk [4] - Investors who purchased or acquired securities in Customers Bancorp between March 1, 2024 and August 8, 2024 are encouraged to discuss their legal rights [1] Regulatory Action and Market Impact - The Federal Reserve Board issued an enforcement action against Customers Bancorp on August 8, 2024, citing significant deficiencies in risk management and anti-money laundering compliance [5][6] - Customers Bancorp's common stock fell 13.3% on August 8, 2024, following the announcement of the enforcement action [6] Lead Plaintiff and Class Action Details - The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class [7] - Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice or remain an absent class member [7] Firm Background and Contact Information - Faruqi & Faruqi, LLP is a leading national securities law firm with offices in New York, Pennsylvania, California, and Georgia [3] - The firm encourages anyone with information regarding Customers Bancorp's conduct to contact them, including whistleblowers, former employees, and shareholders [8]