The Law Offices of Frank R. Cruz Continues Investigation of New York Community Bancorp, Inc. (NYCB) on Behalf of Investors

LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz continues its investigation of New York Community Bancorp, Inc. (“NYCB” or the “Company”) (NYSE: NYCB) on behalf of investors concerning the Company’s possible violations of federal securities laws.


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On January 31, 2024, NYCB reported a fourth quarter 2023 net loss of $252 million. This loss was significantly due to “a $552 million provision for loan losses,” which was “primarily attributable to higher net charge-offs[.]” Additionally, the Company disclosed that it would cut its quarterly dividend to $0.05 per common share.

On this news, NYCB’s stock price fell $3.90, or 37.6%, to close at $6.48 per share on January 31, 2024, thereby injuring investors.

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If you purchased NYCB securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

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Contacts

The Law Offices of Frank R. Cruz, Los Angeles

Frank R. Cruz, 310-914-5007

[email protected]
www.frankcruzlaw.com