Security Investigation

New York Community Bancorp, Inc. (NYSE: NYCB)

35 Days left to seek lead plaintiff status.

Company Name:New York Community Bancorp, Inc.
Stock Symbol:NYSE: NYCB
Court:Eastern District of New York
Class Period Start:03/01/2023
Class Period End (inclusive):01/30/2024
Filing Deadline:04/08/2024

Contact a Lawyer Now

(877) 515-1850

Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 8, 2024 to file lead plaintiff applications in a securities class action lawsuit against New York Community Bancorp, Inc. (“NYCB” or the “Company”) (NYSE: NYCB).

NYCB and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. 

On January 31, 2024, pre-market, the Company announced its 4Q 2023 financial results, disclosing a quarterly net loss of $252 million, due to “a $552 million provision for loan losses,” which was “primarily attributable to higher net charge-offs” and “a significant increase in the ACL [allowance for credit losses]” coverage ratio, as well as slashing its quarterly dividend to $0.05 per common share.

On this news, the price of NYCB’s shares fell $3.90, or 37.57%, to close at $6.47 per share on January 31, 2024, on unusually heavy trading volume.

If you purchased securities of NYCB and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or fill out the form on this page.

The case is Lemm v. New York Community Bancorp, Inc., et al., No. 24-cv-903.

Click here to read the first filed complaint.