NEW YORK, June 20, 2019 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Metro Bank PLC ("Metro Bank" or the "Company") (OTC MKTS: MBNKF). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Metro Bank and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On May 1, 2019, Metro Bank announced the loss of certain large commercial and partnership customers following a disclosure earlier in the year of an accounting error in the Company's risk-weighted assets, as well as adjustments made for the Company's full-year 2018 results.
On this news, Metro Bank's stock price fell $1.69 per share, or over 16%, to close at $8.76 per share on May 2, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP