SAN FRANCISCO, April 17, 2023 (GLOBE NEWSWIRE) — Hagens Berman, national trial attorney, is pushing Signature Bank SBNY Investors who have suffered significant losses Submit your losses now.

school lesson: March 2, 2023 – March 12, 2023
Deadline for lead plaintiff: May 15, 2023
Visit: www.hbsslaw.com/investor-fraud/SBNY
Contact a lawyer now: SBNY@hbsslaw.com
844-916-0895

Signature Bank (SBNY) Securities Fraud Class Action:

on April 4, 2023, The Wall Street Journal reported Signature Bank insiders, who sold $100 million worth of stock as the bank turned to attract cryptocurrency companies and became a stock market darling. The executives sold many of their 2021 shares for around $220 in the spring. Signature was one of only two companies in the S&P 500 that didn’t file insider trading transactions with the SEC. The other was First Republic Bank. The bank also appeared to misclassify some of its FDIC filings as divestitures to the company, meaning the stock was sold to the company and not sold on the open market.

The litigation focuses on Signature Bank’s repeated assurances that it is in a strong financial position despite the undisclosed risks it has taken.

Investors began learning the truth on March 12, 2023, when the New York Department of Financial Services announced that DFS had taken ownership of Signature Bank to protect depositors and appointed the Federal Deposit Insurance Corporation as the bank’s receiver.

“We are focused on investor losses and examining Signature Bank’s known but undisclosed risks while insiders sold their shares,” said Reed Kathrein, the partner at Hagens Berman who led the investigation.

If you have invested in Signature Bank and are experiencing significant losses or have knowledge that may assist the firm’s investigations, Click here to discuss your legal rights with Hagens Berman.

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