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03/16/2023
Signature Bank, former CEO are sued by shareholders for fraud
Reuters
NEW YORK, March 14 (Reuters) - Signature Bank (SBNY.O) and three former top executives were sued on Tuesday by shareholders who accused the New York bank of fraudulently proclaiming it was financially strong a mere three days before it was seized by a state regulator.
The proposed class action against Signature and its former chief executive officer Joseph DePaolo, chief financial officer Stephen Wyremski and chief operating officer Eric Howell was filed in the federal court in Brooklyn.
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