SBNY, SBNYP EQUITY ALERT: ROSEN, TRUSTED INVESTOR COUNSEL, Encourages Signature … – Press Release

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WHY: Rosen Law Firm, a global investor rights law firm, announces that it is investigating potential securities claims on behalf of shareholders of Signature Bank SBNY SBNYP))) resulting from allegations that Signature Bank may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Signature Bank securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=12988 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

WHAT IS THIS ABOUT: On March 13, 2023, Federal Reserve Chairman Jerome Powell, Treasury Secretary Janet Yellen, and Federal Deposit Insurance Corporation (“FDIC”) Chairman Martin Gruenberg released a joint statement which stated, in pertinent part, that in addition to taking steps to protect customers in the wake of Silicon Valley Bank’s (“SVB”) collapse, that they were “also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority. All depositors of this institution will be made whole.”

As mentioned, the New York Department of Financial Services (“DFS”) had taken possession of Signature Bank earlier in the day. DFS stated that it had taken possession of the bank to “protect depositors,” and that “DFS is in close contact with all regulated entities in light of market events, monitoring market trends, and collaborating closely with other state and federal regulators to protect consumers, ensure the health of the entities we regulate, and preserve the stability of the global financial system.”

WHY ROSEN LAW: We encourage investors to select qualified counsel with a…

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