Doral Financial Corp. (NYSE:DRL) Investor Investigation Over Possible Violations Of Securities Laws

If you purchased shares of Doral Financial Corp. (NYSE:DRL), you have certain options and you should contact the Shareholders Foundation, Inc.

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Company Name(s): 
Doral Financial
Affected Securities: 

May 8, 2014 (Shareholders Foundation) - An investigation on behalf of investors of Doral Financial Corp. (NYSE:DRL) shares over potential securities laws violations by Doral Financial and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Doral Financial Corp. (NYSE:DRL) concerning whether a series of statements by Doral Financial Corp regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Doral Financial Corp. reported that its annual Net Loss increased from $3.30 million in 2012 to $88.29 million in 2013. Shares of Doral Financial Corp. (NYSE:DRL) split 1:20 on June 28, 2013. Since then NYSE:DRL shares declined from $24.75 per share in July 2013 to $8.59 per share in March 2014.

Then on May 1, 2014, Doral Financial Corp. announced that it is in the process of developing a revised capital plan intended to enable the Company to remain in compliance with the requirements of its regulators Doral Financial Corp. said that among other things, this revised plan is intended to address a recent determination by the Federal Deposit Insurance Corporation (the "FDIC") regarding the treatment of tax receivables from the Government of Puerto Rico. Shares of Doral Financial Corp. (NYSE:DRL) shares declined from $9.82 per share on May 1, 2014, to $1.87 per share on May 8, 2014.