SOURCE: Faruqi & Faruqi, LLP

Faruqi & Faruqi, LLP

September 12, 2014 20:38 ET

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses in Excess of $100,000 Investing in Flagstar Bancorp Inc. (FBC) to Contact the Firm

NEW YORK, NY--(Marketwired - September 12, 2014) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Flagstar Bancorp Inc. ("Flagstar" or the "Company") (NYSE: FBC) of the November 4, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Flagstar and certain executives.

A complaint has been filed in the Eastern District of Michigan on behalf of all persons who purchased Flagstar securities between January 22, 2014 through August 26, 2014, inclusive (the "Class Period").

The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.

Specifically, the action alleges that during the Class Period, Flagstar made false and/or misleading statements and/or failed to disclose that: (i) starting back in 2011, the Company's loss mitigation practices and default servicing operations were noncompliant with certain federal consumer financial laws promulgated by the Consumer Financial Protection Bureau ("CFPB"); and (ii) Flagstar did not employ proper internal controls.

On August 26, 2014, the Company disclosed in a Form 8-K filing with the Securities and Exchange Commission that it had commenced settlement discussions with the CFPB regarding alleged violations of consumer finance laws dating back to 2011.

Following this news, the price of Flagstar's stock declined by $0.83, or over 4%, to close at $17.66 on August 27, 2014.

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Take Action

If you invested in Flagstar stock or options between January 22, 2014 through August 26, 2014, and would like to discuss your legal rights, visit You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to Faruqi & Faruqi, LLP also encourages anyone with information regarding Flagstar's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at or on Facebook at

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Contact Information

    369 Lexington Avenue, 10th Floor
    New York, NY 10017
    Attn: Richard Gonnello, Esq.
    Telephone: (877) 247-4292 or (212) 983-9330