First Republic Bank (NYSE: FRC)

This lawsuit is for anyone who acquired securities in First Republic Bank (NYSE: FRC) from January 14, 2021 through March 14, 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 when the Company lacked the proper fundamentals and liquidity.

On March 13, 2023, First Republic led a decline in bank shares over concerns that it may not have sufficient liquidity, even after securing emergency funding from other institutions. Raymond James downgraded the stock, stating that, “[d]espite the added liquidity sources, we believe deposit balances will remain under pressure in the immediate near term.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in First Republic Bank (NYSE: FRC) from January 14, 2021 through March 14, 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.