The law firms of Kessler Topaz Meltzer & Check, LLP (“Kessler Topaz”) (www.ktmc.com) and Bernstein Litowitz Berger & Grossmann LLP (“BLB&G”) (www.blbglaw.com) inform investors that City of Hollywood Police Officers’ Retirement System v. First Republic Bank, No. 23-cv-01993 (N.D. Cal.) (the “City of Hollywood Police Officers’ Action”) was voluntarily dismissed on June 16, 2023. The City of Hollywood Police Officers’ Action was a securities fraud class action lawsuit filed on behalf of First Republic Bank (“First Republic”) (NYSE: FRC) investors who purchased or otherwise acquired First Republic securities between January 14, 2021, and March 14, 2023.
The voluntary dismissal of the City of Hollywood Police Officers’ Action, however, does not change the June 23, 2023, lead plaintiff deadline, as any such motions should be made in a later-filed action.
Specifically, on June 14, 2023, another securities fraud class action lawsuit was filed in the U.S. District Court for the Northern District of California and captioned Kusen v. Herbert, II, et al., No. 23-cv-02940 (N.D. Cal.) (the “Kusen Action”). The Kusen Action expanded the class period pled in the City of Hollywood Police Officers’ Action to include investors who purchased or otherwise acquired First Republic securities between January 14, 2021, and April 27, 2023, and reaffirmed the June 23, 2023 lead plaintiff deadline in a press release dated June 14, 2023 announcing the filing of the Kusen Action. Thus, no later than June 23, 2023, any First Republic investors may seek to be appointed as a lead plaintiff in the Kusen Action.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz is one of the world’s foremost advocates in protecting the public against corporate fraud and other wrongdoing. Our securities fraud litigators are regularly recognized as leaders in the field individually and our firm is both feared and respected among the defense bar and the insurance bar. We are proud to have recovered billions of dollars for our clients and the classes of shareholders we represent. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.
ABOUT BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP
BLB&G is widely recognized worldwide as a leading law firm advising institutional investors on issues related to corporate governance, shareholder rights, and securities litigation. Since its founding in 1983, BLB&G has built an international reputation for excellence and integrity and pioneered the use of the litigation process to achieve precedent-setting governance reforms. Unique among its peers, BLB&G has obtained some of the largest and most significant securities recoveries in history, recovering over $37 billion on behalf of investors. More information about the firm can be found online at www.blbglaw.com.
Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
280 King of Prussia Road
Radnor, PA 19087
Bernstein Litowitz Berger & Grossmann LLP
Scott R. Foglietta, Esq.
1251 Avenue of the Americas, 44th Floor
New York, New York 10020