INVESTOR ALERT: Class Action Lawsuit Filed Against Flagstar Financial Inc. Pastore, LLC Encourages Shareholder to Contact the Firm

Core Viewpoint - A class action lawsuit has been initiated against Flagstar Bank N.A. and New York Community Bancorp, Inc. due to allegations of misleading shareholders regarding financial conditions during their merger in December 2022, leading to significant investor losses [2][3]. Group 1: Allegations and Financial Impact - The lawsuit claims that the merger's promotional documents contained numerous false and misleading statements about NYCB's financial health [3]. - Following the merger, NYCB reported a $252 million net loss on January 31, 2024, resulting in a 38% decline in its stock price [3]. - By March 2024, NYCB announced a $2.4 billion goodwill impairment and acknowledged material weaknesses in its internal controls, causing further stock price declines [3]. Group 2: Misrepresentation Details - Allegations include inflating NYCB's income, goodwill, and total assets while understating expenses and potential losses [6]. - The lawsuit also points to misrepresentations regarding NYCB's underwriting practices and risk management systems, as well as inadequate internal controls and poor risk oversight [6]. Group 3: Legal Options for Investors - Investors who held Flagstar shares during the merger may be eligible to join the lawsuit, but they must take action as no class has been certified yet [4]. - Interested parties can contact the law firm for a free consultation or submit their information online to receive a complimentary report [4].