New York Community Bancorp Requests to Dismiss Class Action Filed by Investors

Court: E.D. New York

Case: 1:24-cv-00903

New York Community Bancorp has requested the court to dismiss the lawsuit filed by investors. The court will determine whether the case proceeds.

What is this lawsuit about?

In Q4 2023, New York Community Bancorp reported a $252M loss due to increased loan loss provision. The quarterly dividend was also reduced to $0.05 per share. These changes came after NYCB became a $100B bank earlier than expected, which triggered stricter banking rules following the Signature transaction.

Following this, $NYCB fell 37%.

Then, on February 6, 2024, shareholders filed a claim against New York Community Bancorp.

What can you do to recover your losses now?

We’re keeping track of all updates and will notify $NYCB investors about potential recovery.

More than 600 companies are currently facing securities class action lawsuits, and over 100 are already paying settlements. Connect your brokerage account to automatically check which ones you may have missed.