NEW ORLEANS, July 28, 2019 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors with large financial interests that they have only until July 29, 2019 to file lead plaintiff applications in a securities class action lawsuit against Metro Bank PLC MBNKF. Investor losses must relate to purchases of the Company's securities between March 6, 2018 and May 1, 2019. This action is pending in the United States District Court for the Central District of California.
What You May Do
If you purchased securities of Metro Bank and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/otc-mbnkf/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by July 29, 2019.
About the Lawsuit
On January 23, 2019, the Company disclosed that it had misclassified the risk of a substantial number of its commercial loans. On May 1, 2019, the Company revealed its 1Q2019 results including a 3.6% reduction in deposits, the loss of a "small number of large commercial and partnership customers," lowered growth expectations for the year, and a 50% decline in profit from a year earlier. On this news, the price of Metro Bank's shares plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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