NEW YORK, NY - 
(NewMediaWire) - August 22, 2024 - Kaplan Fox & Kilsheimer LLP is investigating potential securities violations against Customers Bancorp, Inc. (CUBI) (“Customers Bancorp” or the “Company”) (NYSE: CUBI).
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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 Customers Bancorp stock price fell $7.22 per share, over 13%, to close at $47.01 per share on August 8, 2024.
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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
