WHY: Rosen Law Firm, a global investor rights law firm, announces that it is investigating potential securities claims on behalf of shareholders of Signature Bank (NASDAQ: SBNY, SBNYP) resulting from allegations that Signature Bank may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Signature Bank securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=12988 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

WHAT IS THIS ABOUT: On March 13, 2023, Federal Reserve Chairman Jerome Powell, Treasury Secretary Janet Yellen, and Federal Deposit Insurance Corporation (“FDIC”) Chairman Martin Gruenberg released a joint statement which stated, in pertinent part, that in addition to taking steps to protect customers in the wake of Silicon Valley Bank’s (“SVB”) collapse, that they were “also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority. All depositors of this institution will be made whole.”

As mentioned, the New York Department of Financial Services (“DFS”) had taken possession of Signature Bank earlier in the day. DFS stated that it had taken possession of the bank to “protect depositors,” and that “DFS is in close contact with all regulated entities in light of market events, monitoring market trends, and collaborating closely with other state and federal regulators to protect consumers, ensure the health of the entities we regulate, and preserve the stability of the global financial system.”

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

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