NEW YORK, Feb. 01, 2024 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against New York Community Bancorp, Inc. (“NYCB” or the “Company”) (NYSE: NYCB) on behalf of NYCB stockholders. Our investigation concerns whether NYCB has violated the federal securities laws and/or engaged in other unlawful business practices.
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On January 31, 2024, NYCB reported a fourth quarter 2023 net loss of $252 million. This loss was significantly due to “a $552 million provision for loan losses,” which was “primarily attributable to higher net charge-offs[.]” Additionally, the Company disclosed that it would cut its quarterly dividend to $0.05 per common share.
On this news, NYCB’s stock price fell $3.90, or 37.6%, to close at $6.48 per share on January 31, 2024, thereby injuring investors.
If you purchased or otherwise acquired NYCB shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
