NYCB - Investor Notice: Robbins LLP Informs Investors of Class Action Filed Against New York Community Bancorp Inc. (NYCB) | Benzinga

SAN DIEGO, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Robbins LLP informs investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired New York Community Bancorp, Inc. (NYSE:NYCB) securities between March 1, 2023 and July 30, 2024. NYCB is a large commercial-real estate lender in the New York City market areas, where it specializes in rent-regulated, non-luxury apartment buildings.

For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.

The Allegations: According to the complaint, on March 20, 2023, the Company 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, NYCB announced disappointing fiscal fourth quarter 2023 financial results. The Company 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 ...

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