A Deadline is coming up on September 16, 2014 in the lawsuit for investors in Bancorp Inc (NASDAQ:TBBK) and NASDAQ:TBBK stockholders should contact the Shareholders Foundation at firstname.lastname@example.org
San Diego, CA -- (SBWIRE) -- 08/27/2014 -- A deadline is coming up on September 16, 2014 in the lawsuit filed for certain investors of Bancorp Inc (NASDAQ:TBBK) over alleged securities laws violations by the Bancorp Inc.
Investors who purchased shares of Bancorp Inc (NASDAQ:TBBK) have certain options and there are strict and short deadlines running. Deadline: September 16, 2014. NASDAQ:TBBK stockholders should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the District of Delaware the plaintiff alleges on behalf of purchasers of Bancorp Inc (NASDAQ:TBBK) common shares between April 24, 2013 and June 10, 2014, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that Defendants made allegedly false and/or misleading statements and/or failed to disclose that Bancorp Inc had under-reserved for loan losses due to adverse loans, that Bancorp Inc’s operations and credit practices were in violation of the Bank Secrecy Act ("BSA"), and that as a result of the above, Bancorp Inc’s financial statements were materially false and misleading at all relevant times.
On June 10, 2014, Bancorp Inc disclosed that The Bancorp Bank (the “Bank”), a wholly owned subsidiary of The Bancorp, Inc., entered into a Stipulation and Consent to the Issuance of a Consent Order (the “Order”) with the Federal Deposit Insurance Corporation (the “FDIC”). Bancorp Inc said that the Order requires Bancorp Inc to take certain affirmative actions to comply with its ank’s Bank Secrecy Act obligations, among them: appoint a qualified ank’s Bank Secrecy Act /OFAC officer; revise the written ank’s Bank Secrecy Act Compliance Program; develop and implement additional policies and procedures for suspicious activity monitoring and reporting; review and enhance customer due diligence and risk assessment processes; review past account activity to determine whether suspicious activity was properly identified and reported; strengthen internal controls, including augmenting Board oversight regarding ank’s Bank Secrecy Act activities; establish an independent testing program and develop policies and procedures to govern staffing and training for ank’s Bank Secrecy Act compliance.
Shares of Bancorp Inc (NASDAQ:TBBK) dropped from $16.21 per share on June 10, 2014, to $10.21 per share on June 11, 2014 and declined to as low as $8.51 per share on August 15, 2014.
On August 25, 2014, NASDAQ:TBBK shares closed at $9.68 per share.
Those who purchased shares of Bancorp Inc (NASDAQ:TBBK) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego