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The filed complaint alleges that Merchants Bancorp made materially false and/or misleading statements and/or failed to disclose that: The Q1 2026 earnings release showed what appeared to be a headline beat. Beneath that number, brokered deposits -- a key funding source for the bank -- had declined approximately 50% compared to Q1 2025. At the same time, the Company's cost of funds increased materially. The market's reaction was immediate: MBIN shares fell 9.3% as investors recalculated the sustainability of the Company's earnings trajectory in light of the deposit contraction and funding-cost pressure. Prior to the Q1 2026 release, the Company had emphasized "strong deposit growth" in communications with investors. The earnings report did not reconcile that characterization with the scale of the brokered-deposit decline. Analysts and investors who had relied on prior deposit-growth messaging absorbed the new data and sold.
In order to be eligible to join the MBIN class action lawsuit, you must have incurred a loss on shares of Merchants Bancorp purchased during the class period listed above.
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