Investors who lost money with shares of New York Community Bancorp, Inc. (NYSE: NYCB) should contact the Shareholders Foundation

An investor, who purchased shares of New York Community Bancorp, Inc. (NYSE: NYCB), filed a lawsuit over alleged violations of Federal Securities Laws by New York Community Bancorp, Inc.

Investors who purchased shares of New York Community Bancorp, Inc. (NYSE: NYCB) have certain options and for certain investors are short and strict deadlines running. Deadline: April 04, 2024. NYSE: NYCB investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

New York Community Bancorp, Inc. operates as the bank holding company for Flagstar Bank, N.A. that provides banking products and services in the United States.

On March 20, 2023, New York Community Bancorp, Inc. entered into a Purchase and Assumption Agreement to acquire certain assets and assume certain liabilities of Signature Bridge Bank, N.A. ("Signature").

On January 31, 2024, before the market opened, New York Community Bancorp, Inc. announced its fiscal fourth quarter 2023 financial results. New York Community Bancorp, Inc. reported a fourth quarter net loss of $252 million due to "a $552 million provision for loan losses," which was "primarily attributable to higher net charge-offs" and "a significant increase in the ACL [allowance for credit losses]" coverage ratio. Additionally, the Company disclosed that it would cut its quarterly dividend to $0.05 per common share. The Company further explained that these actions were "necessary enhancements" after NYCB "crossed th[e] important threshold [of becoming a $100 billion bank] sooner than anticipated as a result of the Signature transaction." Crossing this $100 billion threshold subjected NYCB to enhanced banking standards and requirements.

Shares of New York Community Bancorp, Inc. (NYSE: NYCB) declined from $10.52 per share on January 29, 2024, to as low as $3.60 per share on February 07, 2024.

The plaintiff claims that between March 1, 2023 and January 30, 2024, the Defendants failed to disclose to investors that the Company was experiencing higher net charge-offs and deterioration in its office portfolio, that, as a result, NYCB was reasonably likely to incur higher loan losses, that, as a result of the foregoing and NYCB's status as Category IV bank, the Company was reasonably likely to increase its allowance for credit losses, that the Company's financial results would be adversely affected, that, to preserve capital, the Company would reduce quarterly common dividend to $0.05 per common share, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of New York Community Bancorp, Inc. (NYSE: NYCB) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.