LOS ANGELES, CA / ACCESSWIRE / May 14, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Metro Bank PLC ("Metro Bank" or "the Company") (OTC PINK: MBNKF) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Metro Bank announced on May 1, 2019, that it discovered an accounting error in January 2019 that resulted in "adverse sentiment" towards the Company amongst its customers. This error led to the Company losing a "small number of large commercial and partnership customers." The loss of these customers led to a drop in profits for the first quarter of 2019. Based on this news, shares of Metro Bank fell over 16% on May 2, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
SOURCE: The Schall Law Firm
View source version on accesswire.com: