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Roy Jacobs & Associates Announces Investigation Into Possible Wrongdoing At Doral Financial Corp. (“DRL”)

Roy Jacobs & Associates, a law firm representing investors nationwide, is investigating potential claims on behalf of shareholders of Doral Financial Corp.. (“Doral”” or the “Company”) (NYSE: DRL) concerning possible breaches of fiduciary duty and securities law violations.

For further information, please contact Roy L. Jacobs, Esq. toll-free at 1-888-884-4490 or by e-mail at rjacobs@jacobsclasslaw.com.

Doral Financial Corporation operates as the bank holding company for Doral Bank that provides retail banking services to general public and institutions. The bank offers traditional banking services; commercial and construction loan products; credit facilities; consumer loans; credit cards; mortgages; and savings accounts.

The investigation is focused on: (i) potential breaches of fiduciary duty on the part of the Doral Board of Directors involving the under-reporting of loan losses on its financial statements; and (ii) the assertion that a purported tax refund of over $200 million claimed to be owed the Company by the government of Puerto Rico could constitute an element of its required capital reserve under federal law; and; (ii) whether the securities laws were violated with respect to the facts surrounding the disclosures of the understatement of loan-loss reserves and the disallowance of the claimed tax refund as required capital reserve by the Federal Reserve Bank of New York.

If you held Doral shares since prior to March 25, 2012 and continue to hold your shares and you are interested in discussing your rights or have information relating to this investigation, please contact Roy L. Jacobs. Mr. Jacobs will be glad to personally speak with you at no cost to you.

Copyright Business Wire 2010

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