Customers Bancorp(US:CUBI) Prnewswireยท2025-01-23 18:57Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Customers Bancorp, Inc. due to allegations of violations of federal securities laws related to inadequate anti-money laundering practices and subsequent regulatory risks [2][3]. Group 1: Legal Investigation and Class Action - The firm is reminding investors of the January 31, 2025 deadline to seek the role of lead plaintiff in a federal securities class action against Customers Bancorp [2]. - The complaint alleges that Customers Bancorp and its executives made false or misleading statements regarding the company's compliance with anti-money laundering laws, which led to significant investor losses when the truth was revealed [3][5]. - The court-appointed lead plaintiff is defined as the investor with the largest financial interest in the relief sought, who will oversee the litigation on behalf of the class [6]. Group 2: Regulatory Issues and Stock Impact - On August 8, 2024, the Federal Reserve Board announced an enforcement action against Customers Bancorp, citing significant deficiencies in the bank's risk management and compliance with anti-money laundering regulations [4][5]. - Following the announcement, Customers Bancorp's common stock experienced a decline of 13.3% on the same day [5]. Group 3: Call for Information - Faruqi & Faruqi encourages anyone with information regarding Customers Bancorp's conduct, including whistleblowers and former employees, to contact the firm [7].