Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Flagstar Bancorp Inc. (FBC) To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Flagstar Bancorp Inc. (“Flagstar” or the “Company”) (NYSE: FBC) of the November 4, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Flagstar and certain executives.
A complaint has been filed in the Eastern District of Michigan on behalf of all persons who purchased Flagstar securities between January 22, 2014 through August 26, 2014, inclusive (the “Class Period”).
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, Flagstar made false and/or misleading statements and/or failed to disclose that: (i) starting back in 2011, the Company’s loss mitigation practices and default servicing operations were noncompliant with certain federal consumer financial laws promulgated by the Consumer Financial Protection Bureau (“CFPB”); and (ii) Flagstar did not employ proper internal controls.
On August 26, 2014, the Company disclosed in a Form 8-K filing with the Securities and Exchange Commission that it had commenced settlement discussions with the CFPB regarding alleged violations of consumer finance laws dating back to 2011.
Following this news, the price of Flagstar’s stock declined by $0.83, or over 4%, to close at $17.66 on August 27, 2014.
If you invested in Flagstar stock or options between January 22, 2014 through August 26, 2014, and would like to discuss your legal rights, you can contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Flagstar’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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