© Reuters. FILE PHOTO: A display screen shows the buying and selling data for New York Group Bancorp on the ground on the New York Inventory Alternate (NYSE) in New York Metropolis, U.S., January 31, 2024. REUTERS/Brendan McDermid/File Picture
(Reuters) – New York Group Bancorp (NYSE:) was sued on Tuesday by shareholders in a proposed class motion for allegedly concealing deterioration in its mortgage portfolio, which resulted in a shock quarterly loss that led to its inventory worth falling by about half.
The criticism was filed in Brooklyn federal courtroom.