A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Bancorp Inc (NASDAQ:TBBK) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on January 13, 2017 and NASDAQ:TBBK investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/09/2017 -- The Shareholders Foundation announced that a deadline is coming up on January 13, 2017 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Bancorp Inc (NASDAQ:TBBK) between January 26, 2011 and June 26, 2015.
Investors who purchased a significant amount of shares of Bancorp Inc (NASDAQ:TBBK) between January 26, 2011 and June 26, 2015, have certain options and should contact the Shareholders Foundation by email at email@example.com or call 858-779-1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the Bancorp Inc (NASDAQ:TBBK) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/bancorp-inc-nasdaq-tbbk-investor-securities-class-action-lawsuit-07172014
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is January 13, 2017. The class action administrator for this case is Garden City Group LLC.
The lawsuit was originally filed in the U.S. District Court for the District of Delaware against Bancorp Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between April 24, 2013 and June 10, 2014.
According to the complaint the plaintiff charges Bancorp Inc (NASDAQ:TBBK) and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The complaint alleges that between April 24, 2013 and June 10, 2014 defendant issued materially false and misleading statements regarding Bancorp Inc's business and financial results.
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.
Those who purchased shares of Bancorp Inc (NASDAQ:TBBK) have certain options and should contact the Shareholders Foundation.