NEW YORK, May 28, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of First Republic Bank (NYSE: FRC, FRC-PI, FRC-PH, FRC-PJ, FRC-PK, FRC-PL, FRC-PM, FRC-PN) between January 14, 2021 and March 14, 2023, both dates inclusive (the “Class Period”), of the important June 23, 2023 lead plaintiff deadline.
SO WHAT: If you purchased First Republic securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the First Republic class action, go to https://rosenlegal.com/submit-
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about First Republic’s business, operations, and prospects. Specifically, defendants: (1) misrepresented the strength of First Republic’s balance sheet and liquidity position; (2) understated the significant pressure rising interest rates posed to First Republic’s business model; (3) misrepresented the strength of First Republic’s ability to deliver consistent results across different interest rate environments; (4) misrepresented the diversity of First Republic’s deposit funding base; and (5) misrepresented First Republic’s ability to generate net interest income (“NII”) growth and maintain stable net interest margin (“NIM”). When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the First Republic class action, go to https://rosenlegal.com/submit-
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
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