Charleston, South Carolina, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Poulin Willey Anastopoulo LLC is investigating claims on behalf of Customers Bancorp (NYSE:CUBI) against certain of its officers and directors. If you are a current holder of Customers Bancorp you may have standing to recover on behalf of Customers Bancorp (and its current shareholders) by making the officers and directors who caused the harm personally liable. You also may be able to assist in improving Customers Bancorp’s corporate governance in order to prevent further wrongdoing.
The Company operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses, The investigation concerns the termination of the Company’s former Executive Vice President and Chief Financial Officer Carla A. Leibold. More recently on July 17, 2024, the Company filed a lawsuit in federal court against one of its former officers, Christopher Smalley, for allegedly selling confidential information.
On April 12, 2024, the Company filed a Form 8-K with the Securities Exchange Commission (“SEC”) announcing that its Executive V.P. and CFO, Carla Leibold “was notified of her termination from employment with the Company on April 10, 2024, for “cause’ under her employment agreement for violating Company policy, which termination was effective immediately.” The Company also reported that Ms. Leibold “has disputed the Company’s characterization of her separation from the Company.” Less than two weeks later on April 25, 2024 the Company made two filings with the SEC. The Company filed an amended Form-8K/A and a Form 8-K.
The April 25,2024 amended Form-8K/A announced that contrary to the termination of Ms. Leibold for cause that Customers Bancorp had announced on April 12, 2024, that the Company and Ms. Leibold entered into an Agreement and Mutual Release (the “Agreement”) and “agreed that the termination of Ms. Leibold’s employment is a separation by mutual agreement.” The Company further reported that “Ms. Leibold has represented to the Company that she is not aware of any facts that constitute or might constitute violations of the Company’s legal or regulatory obligations.”
The other Form 8-K filed on April 25, 2024, reported a summary of the Agreement. The Agreement provides that Ms. Leibold was to receive $2,5 million in cash, payable in equal installments. Ms. Leibold was to receive $500 per hour for any time spent for “certain cooperation.”
Investors who currently own shares of Customers Bancorp should contact the Firm in the immediate future to discuss your rights as an owner of the Company’s shares. If you wish to discuss your rights or interests regarding this potential action, please contact Ahmad Jackson at 803-222-2222 or via e-mail at ahmad.jackson@poulinwilley.com.
Any additional questions may be directed to the Firm’s Director of Shareholder Services and Securities litigation, Stuart J. Guber, Esq, with almost 35 years of experience representing public pension funds, Taft-Hartley union pension plans and health & welfare funds, and high net-worth investors and other individuals in shareholder litigation, securities class actions and opt-out litigation.
Poulin I Willey I Anastopoulo has offices in Florence, Charleston, Ladson, Columbia, Greenville, Lexington, Myrtle Beach, Rock Hill and Hampton, South Carolina. Charlotte and Lumberton, North Carolina. Atlanta, Albany, Athens, Augusta, Columbus and Macon in Georgia. Visit: RespectResults.com to learn more.
Contact: Stuart J. Guber Director of Shareholder Services and Securities Litigation Email: stuart.guber@poulinwilley.com
