New York Community Bancorp is sued over disclosures, stock price By Reuters

© Reuters. FILE PHOTO: A screen displays the trading information for New York Community Bancorp on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 31, 2024. REUTERS/Brendan McDermid/File Photo

(Reuters) – New York Community Bancorp (NYSE:) was sued on Tuesday by shareholders in a proposed class action for allegedly concealing deterioration in its loan portfolio, which resulted in a surprise quarterly loss that led to its stock price falling by about half.

The complaint was filed in Brooklyn federal court.

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