NEW YORK, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Texas Capital Bancshares, Inc. (“TCB” or the “Company”) (NASDAQ: TCBI). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether TCB and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On March 29, 2021, TCB’s stock price fell roughly 13% on unusually heavy trading volume as prime brokers associated with now-defunct family office, Archegos Capital Management (“Archegos”), unwound large U.S. stock positions linked to the fund. Then, on November 16, 2021, Bloomberg published an article detailing how Archegos built up a previously undisclosed position equal to 20% of TCB prior to the margin calls that forced Archegos’s liquidation. According to the Bloomberg article, TCB was aware of the large position held by Archegos even while the Company raised additional capital from investors in February 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby