The filed complaint alleges that defendants made false statements and/or concealed that: (i) Key downplayed concerns with its liquidity while overstating the effectiveness of its long-term liquidity strategy; (ii) Key overstated its projected net interest income (“NII”) for the second quarter and full year of 2023, as well as related positive NII drivers, while downplaying negative NII drivers; (iii) as a result, Key was likely to negatively revise its previously issued NII guidance; (iv) all the foregoing, once revealed, was likely to negatively impact Key’s business, financial results, and reputation; and (v) as a result, defendants’ public statements were materially false and/or misleading at all relevant times.