Flagstar Bancorp Inc (NYSE:FBC) Investor Investigation Over Possible Violations Of Securities Laws Announced

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Company Name(s): 
Flagstar Bancorp.
Affected Securities: 

September 2, 2014 (Shareholders Foundation) - An investigation on behalf of investors of Flagstar Bancorp Inc (NYSE:FBC) shares over potential securities laws violations by Flagstar Bancorp Inc 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 Flagstar Bancorp Inc (NYSE:FBC) concerning whether a series of statements by Flagstar Bancorp regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On January 22, 2014, Flagstar Bancorp Inc reported its fourth quarter and fully 2013 financial results. Among other things, Flagstar Bancorp Inc reported that is Net Loss of $374.81 million in 2010 turned into a Net Income of $261.20 million in 2013. Shares of Flagstar Bancorp Inc (NYSE:FBC) rose from $12.73 per share in April 2013 to as high as $22.57 per share in February 2014.

On August 26, 2014, Flagstar Bancorp, Inc., the holding company of Flagstar Bank, FSB (the "Bank"), announced that the Bank has commenced discussions with the Consumer Financial Protection Bureau, or CFPB, related to alleged violations of various federal consumer financial laws arising from the Bank's loss mitigation practices and default servicing operations dating back to 2011.
Flagstar Bancorp Inc said that the Bank previously provided the CFPB with documents and other information concerning the Bank’s loss mitigation practices and default servicing operations in response to Civil Investigative Demands received from the CFPB.

Shares of Flagstar Bancorp Inc declined from $18.50 per share on August 26,2014 to as low as $17.26 per share on August 29, 2014.