The Hollywood, Calif., police officers’ pension fund has filed a lawsuit in federal court against First Republic Bank and its auditor, KPMG, that alleges the bank misled investors about the strength of its business ahead of a steep stock slide.
The suit, filed in U.S. District Court for the Northern District of California, names current First Republic Bank CEO and former CFO Michael J. Roffler, current CFO Neal Holland, former CEO James H. Herbert II and former president and co-CEO Hafize Gaye Erkans as defendants, along with…
