Dream Chasers Demands Resignation of Carver Bancorp's Board of Directors

Concerns Raised by DCCG: Dream Chasers Capital Group (DCCG) has called for the resignation of Carver Bancorp's entire Board of Directors, citing allegations of nepotism, financial self-dealing, and mishandling of employee-related incidents, particularly in light of a proposed Nasdaq delisting.

Impact on Communities of Color: DCCG warns that a Nasdaq delisting would significantly harm African American communities served by Carver, urging influential financial partners like JP Morgan to intervene and support the bank's mission to build wealth in these communities.

Call for Shareholder Action: DCCG encourages shareholders to contact board members to demand a delay in the delisting decision and a special meeting for a shareholder vote, emphasizing the need for transparency and accountability from the board.

Allegations of Mismanagement: The letter from DCCG highlights questionable financial transactions involving board members, including undisclosed relationships and cronyism in hiring practices, which they argue have led to significant shareholder losses and a breach of fiduciary duty.