Signature Bank (NASDAQ: SBNY; SBNYP)

This lawsuit is for anyone who acquired securities in Signature Bank (NASDAQ: SBNY; SBNYP) from April 23, 2020 through March 12, 2023.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the Company had strong fundamentals and sufficient liquidity to avoid having New York take over the bank, when the bank actually lacked such fundamentals.

On March 12, 2023, the New York Department of Financial Services (“DFS”) announced that it had taken possession of Signature Bank to protect depositors pursuant to Section 606 of New York Banking Law. On this news, NASDAQ halted trading in the Company’s shares thereby injuring investors.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Signature Bank (NASDAQ: SBNY; SBNYP) from April 23, 2020 through March 12, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.