INVESTORS SUE SIGNATURE

SIGNATURE Bank and three former executives are being sued by shareholders.

They accuse the New York lender of fraudulently proclaiming it was financially strong a mere three days before it collapsed.

The proposed class action against Signature and its former chief executive Joseph

DePaolo, chief financial officer Stephen Wyremski and chief operating officer Eric Howell was filed in the federal court in Brooklyn.

Founded in 1999, Signature has in recent years made a push into cryptocurrency but folded on Sunday. It ended 2022 with £90bn of assets and more than £70bn of deposits.