FIRST REPUBLIC BANK Common Stock (NYSE: FRC)
15 Days left to seek lead plaintiff status.
Company Name:FIRST REPUBLIC BANK Common Stock
Stock Symbol:NYSE: FRC
Class Period Start:01/14/2021
Class Period End (inclusive):03/14/2023
The Complaint alleges that, throughout the Class Period, Defendants misrepresented the strength of First Republic’s balance sheet, liquidity, and position in the market. Among other things, the Complaint alleges Defendants understated and concealed the magnitude of the risks facing the Company’s business model that would result from any decision by the Federal Reserve System raising the federal funds rate, thereby undermining the value of the Company’s loan and securities portfolios and liquidity. Finally, the Complaint alleges that, as a result of Defendants’ misrepresentations and omissions, First Republic securities traded at artificially inflated prices during the Class Period.