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Investors Alert: Levi & Korsinsky Announces Securities Lawsuit Against New York Community Bancorp, Inc. (NYSE: NYCB)

Levi & Korsinsky, LLP, a prominent securities litigation firm, has issued a notification to investors regarding a class action lawsuit filed against New York Community Bancorp, Inc. (“New York Community Bancorp” or the “Company”) (NYSE: NYCB) for alleged securities law violations.

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Class Definition and Lawsuit Details

The lawsuit aims to recover losses for investors of New York Community Bancorp who were impacted by purported securities fraud occurring between March 1, 2023, and February 5, 2024. Investors affected by these events are encouraged to follow the link provided to obtain further information and to be contacted by a member of Levi & Korsinsky’s legal team. Alternatively, investors may reach out to Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.

The filed complaint alleges that the defendants engaged in false statements and/or concealed critical information, including:

  1. Higher net charge-offs and deterioration in the Company’s office portfolio.
  2. The increased likelihood of higher loan losses.
  3. The potential increase in the Company’s allowance for credit losses due to its Category IV bank status.
  4. The adverse impact on the Company’s financial results.
  5. The decision to reduce quarterly common dividends to $0.05 per common share to preserve capital.
  6. The materially misleading or lacking reasonable basis in defendants’ positive statements about the Company’s business, operations, and prospects.

Legal Proceedings and Compensation

Investors who suffered losses in New York Community Bancorp during the specified time frame have until April 8, 2024, to request the Court appoint them as lead plaintiff. Participation in any potential recovery does not require serving as a lead plaintiff, and there are no out-of-pocket costs or fees for class members.

Why Choose Levi & Korsinsky?

Levi & Korsinsky boasts a 20-year track record of securing significant compensation for aggrieved shareholders in high-stakes securities litigation. With a team of over 70 dedicated professionals, the firm specializes in representing investors in complex securities cases. Recognized for its expertise, Levi & Korsinsky has consistently ranked among the top securities litigation firms in the United States according to ISS Securities Class Action Services’ Top 50 Report for seven consecutive years.

Investors impacted by the alleged securities law violations involving New York Community Bancorp are encouraged to take prompt action to protect their rights and potential recovery.

Allen

Allen holds a Master's degree in English Literature and boasts seven years of experience as a content writer. Specializing in Entertainment, Sports, and the latest news, he excels in crafting compelling narratives that captivate audiences. Allen's expertise in language and storytelling ensures that his content is both informative and engaging.

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