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First Republic Sued Over $7M Losses To Scholarship Fund

By Katryna Perera (August 10, 2023, 5:40 PM EDT) -- A philanthropic retired couple claims First Republic Bank and one of its investment managers invested the entirety of the couple's funds into the failed bank's stock and ignored repeated instructions to sell the stock when the bank was on the verge of collapse, causing the couple to lose more than $7 million, most of which was in a scholarship fund for underserved students at the University of California, Berkeley....

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