Customers Bancorp Is Being Investigated For Potential Securities Law Violations And Affected Stockholders Are Urged To Participate

Rhea-AI Summary

The Schall Law Firm is investigating Customers Bancorp (NYSE:CUBI) for potential securities law violations. The investigation centers on the company's handling of CFO Carla Leibold's departure. Initially, Customers Bancorp stated in an SEC filing on April 12, 2024, that Leibold was terminated 'for cause' due to policy violations. However, a subsequent filing on April 25, 2024, revealed that the termination was actually a 'separation by mutual agreement', with Leibold receiving a $2.5 million cash settlement.

The discrepancy between these statements raises concerns about the company's transparency and potential misleading of investors. Shareholders who have suffered losses are encouraged to participate in the investigation. The Schall Law Firm specializes in securities class action lawsuits and shareholder rights litigation, representing investors worldwide.

LOS ANGELES, CA / ACCESSWIRE / August 23, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Customers Bancorp, Inc. ("Customers Bancorp" or "the Company") (NYSE:CUBI) for violations of the securities laws.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Customers Bancorp revealed via an SEC filing on April 12, 2024, that Executive Vice President and Chief Financial Officer ("CFO"), Carla Leibold, "was notified of her termination from employment with the Company on April 10, 2024, for 'cause' under her employment agreement for violating Company policy, which termination was effective immediately." The Company then admitted in an SEC filing on April 25, 2024, that contrary to its prior filing, that Ms. Leibold "agreed that the termination of Ms. Leibold's employment is a separation by mutual agreement." Additionally, the Company disclosed that Ms. Leibold would receive $2.5 million in cash.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:
The Schall Law Firm
Brian Schall, Esq.
www.schallfirm.com
Office: 310-301-3335
info@schallfirm.com

SOURCE: The Schall Law Firm

View the original press release on accesswire.com

FAQ

What is the main focus of the investigation into Customers Bancorp (CUBI)?

The investigation focuses on whether Customers Bancorp issued false or misleading statements and/or failed to disclose important information to investors, particularly regarding the departure of CFO Carla Leibold.

When did Customers Bancorp announce the termination of CFO Carla Leibold?

Customers Bancorp initially announced the termination of CFO Carla Leibold in an SEC filing on April 12, 2024.

How did Customers Bancorp (CUBI) change its statement about Carla Leibold's departure?

On April 25, 2024, Customers Bancorp changed its statement, saying that Leibold's termination was a 'separation by mutual agreement' instead of a termination 'for cause' as initially reported.

What settlement did Carla Leibold receive from Customers Bancorp (CUBI)?

According to the April 25, 2024 SEC filing, Carla Leibold received a $2.5 million cash settlement from Customers Bancorp.

Who is conducting the investigation into Customers Bancorp (CUBI)?

The Schall Law Firm, a national shareholder rights litigation firm, is conducting the investigation into Customers Bancorp.