Investigation announced for Investors in Customers Bancorp, Inc. (NYSE: CUBI) over potential Wrongdoing

An investigation was announced for investors in shares of Customers Bancorp, Inc. (NYSE: CUBI) over potential breaches of fiduciary duties by certain officers and directors at Customers Bancorp, Inc.

Investors who purchased shares of Customers Bancorp, Inc. (NYSE: CUBI) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Customers Bancorp, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.

West Reading, PA based Customers Bancorp, Inc. operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. Customers Bancorp, Inc. reported that its annual Total Revenue rose from $633.45 million in 2022 to $740.93 million in 2023, and that its Net Income increased from $563.65 million in 2022 to $612.83 million in 2023.

On August 8, 2024, during market hours, the Federal Reserve Board of Governors issued an announcement entitled "Federal Reserve Board issues enforcement action with Customers Bancorp, Inc. and Customers Bank." Attached to the announcement was a written agreement between the Federal Reserve Bank of Philadelphia, Customers Bancorp, Inc., and Customers Bank. The agreement stated "the most recent examinations and inspection of [Customers Bancorp and Customers Bank] conducted by the Federal Reserve Bank of Philadelphia [. . .] identified significant deficiencies related to the Bank's risk management practices and compliance with the applicable laws, rules, and regulations relating to anti-money laundering ("AML"), including the Bank Secrecy Act [. . .], including the rules and regulations issued thereunder by the U.S. Department of the Treasury [. . .], and the AML requirements of Regulation H of the Board of Governors [of the Federal Reserve System] [. . .]; and the regulations issued by the Office of Foreign Assets Control of the United States Department of the Treasury[.]"

Shares of Customers Bancorp, Inc. (NYSE: CUBI) declined from $68.49 per share on July 26, 2024, to $42.40 per share on August 08, 2024.

Those who purchased shares of Customers Bancorp, Inc. (NYSE: CUBI) 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.