METRO BANK PLC INVESTOR ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Central District of California against Metro Bank PLC

Lead Plaintiff Deadline is July 29, 2019

NEW YORK, June 10, 2019 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of all persons or entities who purchased or otherwise acquired Metro Bank PLC (Other OTC: MBNKF) (“Metro Bank” or “Company”) securities between March 6, 2018 and May 1, 2019 (the “Class Period”).

Investors who purchased the shares of Metro Bank PLC are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website www.whafh.com.

If you have incurred losses in the shares of Metro Bank PLC, you may, no later than July 29, 2019, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Metro Bank PLC.

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The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:

• Metro Bank misclassified the risk terms of many of its loans;
   
• accordingly, Metro Bank failed to maintain sufficient capital;
   
• this conduct would lead to investigations by the Prudential Regulation Authority and Financial Conduct Authority;
   
• this conduct would also lead to the reduction of deposits at Metro Bank from larger commercial and partnership clients; and
   
• as a result, defendants public statements were materially false and/or misleading at all relevant times.
  

On May 1, 2019, Metro Bank announced that it lost some large commercial and partnership customers following a disclosure earlier in the year of an accounting error in the Company’s risk-weighted assets, as well as adjustments made for the Company’s full year 2018 results.

On this news, Metro Bank's share price fell from $10.45 per share on May 1, 2019 to a closing price of $8.50 on May 3, 2019, a drop of 18.66%.

Wolf Haldenstein Adler Freeman & Herz LLP  has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.
Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

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