Update on Lawsuit for Investors in New York Community Bancorp, Inc. (NYSE: NYCB) – Shareholders Foundation Announces Options for Investors

Investors in New York Community Bancorp, Inc. (NYSE: NYCB) are facing a lawsuit that alleges violations of securities laws. The lawsuit, filed by an investor in NYCB shares, claims that the company failed to disclose important information to investors, leading to misleading statements about its business operations and prospects.

The plaintiff alleges that NYCB was experiencing higher net charge-offs and deterioration in its office portfolio, which would likely result in higher loan losses. As a Category IV bank, the company was expected to increase its allowance for credit losses, impacting its financial results. In response, NYCB reduced its quarterly common dividend to $0.05 per share to preserve capital.

On May 7, 2024, a lead plaintiff and lead counsel were appointed in the case, signaling progress in the legal proceedings. Investors who purchased NYCB shares before March 2023 and continue to hold them have options available to them and are encouraged to contact the Shareholders Foundation, Inc. for more information.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service that provides information on shareholder issues and securities class actions. They are not a law firm, but they aim to inform investors of legal developments in the stock market.

For more information on this lawsuit and how it may impact NYCB investors, contact the Shareholders Foundation, Inc. at mail@shareholdersfoundation.com or call +1(858) 779 – 1554. Stay informed and protect your investments in NYCB.