Signature Bank

Schaeffer v. Signature Bank et al., (Case No. 1:23-cv-01921), E.D.N.Y.

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The complaint alleges that throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that Signature Bank did not have the strong fundamentals it represented to investors just days prior to its being taken over by the New York Department of Financial Services (DFS), which as a result made it a target for regulatory action.  

Signature Bank was shut down by state regulators on Sunday, March 12, 2023.

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