NEW YORK–(BUSINESS WIRE)–#A–Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Western Alliance Bancorporation (“Western Alliance” or the “Company”) (NYSE: WAL) on behalf of Western Alliance stockholders. Our investigation concerns whether Western Alliance has violated the federal securities laws and/or engaged in other unlawful business practices.
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On March 10, 2023, Business Insider reported after Silicone Valley Bank’s $1.8 billion loss, shares of Western Alliance have crashed. The Company issued financial updates, “showing growing deposits and strong liquidity in the form $2.5 billion in cash on its balance sheet, a fully collateralized credit facility of $13.1 billion, and uncommitted credit lines of $4.6 billion.”
On this news, Western Alliance’s price fell $13.02 per share, or 20.88%, to close at $49.34 per share on March 10, 2023. On March 13, 2023, Western Alliance’s shares fell 12.4% to $43.20 in pre-market trading.
If you purchased or otherwise acquired Western Alliance shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at [email protected], by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.