|[July 07, 2014]
UPCOMING DEADLINE: Levi & Korsinsky, LLP Reminds Investors of Class Action against Doral Financial Corp. and Its Board of Directors and a Lead Plaintiff Deadline of July 14, 2014 -- DRL
NEW YORK --(Business Wire)--
Levi & Korsinsky announces that a class action lawsuit has been
commenced in the United States District Court for the District of Puerto
Rico on behalf of investors who purchased Doral Financial Corp. ("Doral"
or the "Company") (NYSE:DRL) common stock between April 2, 2012 and May
For more information, click here: http://zlk.9nl.com/doral-financial-drl.
The complaint alleges that throughout the Class Period defendants
misrepresented and/or failed to disclose that: (a) the Company had a
material weakness in its internal controls regarding financial reporting
and disclosure, and as a result such controls were ineffective; (b) the
Cmpany had under-reserved for loan losses, and as a result the
Company's assets and net income were overstated while its expenses were
understated, and the Company did not meet its Tier I regulatory capital
On May 1, 2014, the Company announced that the Federal Deposit Insurance
Corporation (the "FDIC") had advised Doral that it could not include
some or all of its receivables from the Puerto Rican government in its
calculation of Tier 1 capital. These receivables account for
approximately $289 million of the bank's approximately $679 million of
Tier 1 Capital as of December 31, 2013.
If you suffered a loss in Doral you have until July 14, 2014 to request
that the Court appoint you as lead plaintiff. Your ability to share in
any recovery doesn't require that you serve as a lead plaintiff. To
obtain additional information, contact Joseph E. Levi, Esq. either via
email at email@example.com or by
telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/doral-financial-drl.
Levi & Korsinsky is a national firm with offices in New York, New
Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have
extensive expertise in prosecuting securities litigation involving
financial fraud, representing investors throughout the nation in
securities and shareholder lawsuits. For more information, please feel
free to contact any of the attorneys listed below. Attorney advertising.
Prior results do not guarantee similar outcomes.
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