On or around 09/05/2019 (Ongoing date of last review)
Filing Date: May 30, 2019
According to the Complaint, Metro Bank PLC provides retail and commercial banking services in the United Kingdom.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Metro Bank misclassified the risk terms of many of its loans; (2) accordingly, Metro Bank failed to maintain sufficient capital; (3) this conduct would lead to investigations by the Prudential Regulation Authority and Financial Conduct Authority; (4) this conduct would also lead to the reduction of deposits at Metro Bank from larger commercial and partnership clients; and (5) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.
Company & Securities Information
Defendant: Metro Bank PLC
Industry: Regional Banks
Headquarters: United Kingdom
Ticker Symbol: MBNKF
Company Market: OTC-BB
Market Status: Public (Listed)
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