KEY - KEYCORP ALERT: Bragar Eagel & Squire P.C. is Investigating KeyCorp on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against KeyCorp (NYSE:KEY) on behalf of long-term stockholders following a class action complaint that was filed against KeyCorp on August 4, 2023 with a Class Period from February 27, 2020 to June 9, 2023. Our investigation concerns whether the board of directors of KeyCorp have breached their fiduciary duties to the company.
Key operates as the holding company for KeyBank National Association, which provides various retail and commercial banking products and services in the U.S. One of the Company's principal sources of revenue is net interest income ("NII"), which is calculated as the difference between interest income received on earning assets (such as loans and securities) and loan-related fee income, and interest expense paid on deposits and borrowings.
Key has repeatedly downplayed concerns regarding its liquidity while touting the effectiveness of its long-term liquidity strategy. For example, the Company has repeatedly assured investors that its strong core deposit base, in conjunction other funds, supports the Company's liquidity risk management strategy, and that the Company's liquid asset portfolio, inter alia, exceeds the estimated amount needed to manage through an adverse liquidity event.
On March 6, 2023, Key filed its presentation slides for the 2023 RBC Capital Markets Financial Institutions Conference as an exhibit to a Securities and Exchange Commission filing, wherein the Company disclosed that it had downwardly revised its ...