Shareholders of Customers Bancorp, Inc. Should Contact Levi & Korsinsky Before January 31, 2025 to Discuss Your Rights – CUBI

Key Takeaways:

• Levi & Korsinsky, LLP has initiated a class action lawsuit against Customers Bancorp.
• The lawsuit alleges inadequate anti-money laundering practices and securities fraud.
• Investors who purchased shares between March 1, 2024, and August 8, 2024, are affected.
• The deadline to request lead plaintiff status is January 31, 2025.
• Levi & Korsinsky is recognized for its strong track record in securities litigation.

Investors File Class Action Against Customers Bancorp for Securities Fraud

Allegations of Misleading AML Practices

Levi & Korsinsky, LLP has filed a class action lawsuit against Customers Bancorp, Inc. (NYSE: CUBI), asserting that the bank holding company misled investors regarding its anti-money laundering (AML) practices. The lawsuit aims to recover losses for shareholders who purchased the company’s securities between March 1, 2024, and August 8, 2024.

According to the complaint, Customers Bancorp “had inadequate anti-money laundering practices” and was “not in compliance with its legal obligations.” These deficiencies allegedly exposed the company to heightened regulatory risk. Investors claim that these issues were concealed, resulting in materially false and misleading statements about the company’s operations and prospects.

Who Is Affected and What Can They Do?

Investors who suffered losses during the specified period may be entitled to compensation. The lawsuit encourages affected shareholders to request that the court appoint them as lead plaintiff by the deadline of January 31, 2025. Serving as a lead plaintiff is not mandatory to partake in any potential recovery but allows individuals to guide the litigation on behalf of the class.

There are “no out-of-pocket costs or fees” associated with participating in the lawsuit, and there is “no cost or obligation to participate.” This opens the door for affected investors to seek justice without bearing the financial burden typically associated with legal action.

Levi & Korsinsky’s Expertise in Securities Litigation

Levi & Korsinsky, LLP is a nationally recognized law firm specializing in securities litigation. Over the past 20 years, the firm has “secured hundreds of millions of dollars for aggrieved shareholders.” With a team of over 70 employees, they bring extensive experience to complex securities cases.

The firm’s reputation is further solidified by its consistent ranking in the ISS Securities Class Action Services’ Top 50 Report. For “seven years in a row,” Levi & Korsinsky has been acknowledged as one of the top securities litigation firms in the United States.

Implications for Customers Bancorp

Customers Bancorp operates as a bank holding company, engaging in banking and related businesses through its subsidiary, Customers Bank. The allegations of inadequate AML practices not only impact investor confidence but may also subject the company to regulatory scrutiny and potential penalties.

These allegations raise critical questions about the company’s compliance protocols and transparency with shareholders. The unfolding legal proceedings may have significant repercussions for the company’s operational integrity and market performance.

Next Steps for Shareholders

Affected investors are encouraged to contact Levi & Korsinsky to discuss their rights and potential participation in the lawsuit. The firm can be reached via email at

With the deadline approaching, shareholders have a limited window to take action. Engaging with experienced legal counsel can help investors navigate the complexities of securities litigation and advocate for their interests.

Conclusion

The class action lawsuit against Customers Bancorp underscores the vital importance of corporate transparency and adherence to legal obligations. As the case progresses, it highlights the role of vigilant shareholders and dedicated legal professionals in holding companies accountable.