Customers Bancorp, Inc.

August 21, 2024

Principle Contacts

Pamela Mayer

PMayer@kaplanfox.com

Laurence D. King

LKing@kaplanfox.com

Kaplan Fox & Kilsheimer LLP is Investigating Possible Securities Law Violations Against Customers Bancorp, Inc. (CUBI)

Kaplan Fox & Kilsheimer LLP is investigating potential securities violations against Customers Bancorp, Inc. (CUBI) (“Customers Bancorp” or the “Company”) (NYSE: CUBI).

CLICK HERE TO RECEIVE MORE INFORMATION ABOUT THIS INVESTIGATION

If you are a Customers Bancorp investor and have suffered losses, you may click here to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.

On April 12, 2024, after the market closed, the Company disclosed that its Executive Vice President and Chief Financial Officer, Carla Leibold, was terminated on April 10, 2024 “for ‘cause’” under her employment agreement for violating Company policy.  Ms. Leibold “disputed the Company’s characterization of her separation from the Company.”

The first trading day following the news, the price of Customers Bancorp stock fell $2.40 per share, nearly 5%, to close at $46.62 per share on April 15, 2024.

Then, on April 25, 2024, Customers Bancorp amended its previous statement regarding Ms. Liebold’s termination to a “separation by mutual agreement” and also disclosed that Ms. Leibold would be paid $2.5 million in “post-employment compensation”.

On April 26, 2024, the price of Customers Bancorp stock fell $2.71 per share, over 5%, to close at $46.82 per share.

On August 8, 2024, the Federal Reserve Board announced the execution of an enforcement action with Customers Bancorp and Customers Bank (owned and controlled by Customers Bancorp), stating that the most recent examinations and inspection “identified significant deficiencies related to the Bank’s risk management practices and compliance with the applicable laws, rules, and regulations relating to anti-money laundering. . . .”

Following this news, the price of Customer Bancorp stock price fell $7.22 per share, over 13%, to close at $47.01 per share on August 8, 2024.

WHY CONTACT KAPLAN FOX

Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey.  With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand.  Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients.  For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.

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If you have any questions about this investigation, please contact:

Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
E-mail: pmayer@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax:  (415) 772-4707
E-mail: lking@kaplanfox.com