NYSE: FRC

First Republic Bank

Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of First Republic Bank (NYSE: FRC, FRC.PRN, FRC.PRM, FRC.PRL, FRC.PRK) resulting from allegations that First Republic Bank may have issued materially misleading business information to the investing public.

If you purchased First Republic Bank securities and would like to join the prospective action, please click “Join This Class Action.”

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If you purchased First Republic Bank securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of investigation:

On March 13, 2023, First Republic led a decline in bank shares on revelations that the bank may not have sufficient liquidity, even after it secured emergency funding from other institutions. Despite the emergency funding, Raymond James downgraded the stock, highlighting the risk of deposit outflows facing First Republic In downgrading the stock, Raymond James stated, “[d]espite the added liquidity sources, we believe deposit balances will remain under pressure in the immediate near term. While we believe the bank received some deposit inflows on Thursday during the bank run at SVB, additional panic among large depositors may have driven deposit balances lower since Thursday.”

On this news, the price of First Republic’s stock plummeted by over $53.26, or over 66%, in intra-day trading on March 13, 2023.

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Company Name: First Republic Bank
Stock Symbol: FRC
Class Period: N/A
Court: N/A
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