NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Metropolitan Bank Holding Corp. (NYSE: MCB) resulting from allegations that MCB may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased MCB 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=14239 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email firstname.lastname@example.org or email@example.com for information on the class action.
WHAT IS THIS ABOUT: On March 30, 2023, Vidar Research ("Vidar") published a short report entitled "Metropolitan Commercial Bank is a mixed bag of problems." The Vidar report noted that Metropolitan Commercial Bank "is the issuer of choice for prepaid debit cards of crypto firms," asserted that Metropolitan Commercial Bank is "bleeding deposits," questioned whether the bank was actually moving away from cryptocurrency (as it had announced), and described its balance sheet as "shocking comparable to the failed Signature Bank." The Vidar report concluded that Metropolitan Commercial Bank "is a failed bank and that it will share the fate" of Signature Bank and Silicon Valley Bank.
On this news, MCB's stock price fell $9.66 per share, or 27.58%, to close at $25.36 per share on March 30, 2023.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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