Execs Misrepresented Bank’s Financial Strength Before Takeover, Investor Argues

(March 27, 2023, 3:15 PM EDT) -- BROOKLYN, N.Y. — A New York-based commercial bank and three of its former executive officers misrepresented the bank’s financial strength in violation of federal securities law, causing investors to suffer losses after the truth was revealed and the bank was seized by New York banking regulators, an investor alleges in a complaint filed in New York federal court....

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