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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 29, 2019 to file lead plaintiff applications in a securities class action lawsuit against Metro Bank PLC (OTC: MBNKF).
Metro Bank and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On January 23, 2019, the Company disclosed that it had misclassified the risk of a substantial number of its commercial loans. On May 1, 2019, the Company revealed its 1Q2019 results including a 3.6% reduction in deposits, the loss of a “small number of large commercial and partnership customers,” lowered growth expectations for the year, and a 50% decline in profit from a year earlier.
On this news, the price of Metro Bank’s shares plummeted.
If you purchased securities of Metro Bank and would like to discuss your legal rights and how this case might affect your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or fill out the form on this page.
The case is Amann v. Metro Bank Plc, 19-cv-4739. Click here to read the case complaint.