The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Metro Bank PLC (OTCMKTS: MBNKF) who purchased shares between March 6, 2018 and May 1, 2019. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the Metro Bank lawsuit alleges that (1) Metro Bank misclassified the risk terms of many of its loans; (2) accordingly, Metro Bank failed to maintain sufficient capital; (3) this conduct would lead to investigations by the PRA and FCA; (4) this conduct would also lead to the reduction of deposits at Metro Bank from larger commercial and partnership clients; and (5) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.
Shareholders have until July 29, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
Please fill out the form to learn more