OTCMKTS: MBNKF26 Sep 2019 09:53
I'm surprised this topic has been discussed as its been on my radar for several months, is it a non event ? or could it really effect the SP ?
Metro Bank PLC (OTCMKTS: MBNKF)
Investors Affected : March 6, 2018 - May 1, 2019
A class action has commenced on behalf of certain shareholders in Metro Bank PLC. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Metro Bank misclassified the risk terms of many of its loans; (2) accordingly, Metro Bank failed to maintain sufficient capital; (3) this conduct would lead to investigations by the PRA and FCA; (4) this conduct would also lead to the reduction of deposits at Metro Bank from larger commercial and partnership clients; and (5) as a result, Defendants' public statements were materially false and/or misleading at all relevant times