Bancorp : SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Investors of Class Action Against The Bancorp, Inc. and Its Board of Directors and a Lead Plaintiff Deadline of September 16, 2014 -- TBBK
July 29, 2014 at 01:03 pm
Share
NEW YORK, NY--(Marketwired - Jul 29, 2014) - Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the District of Delaware on behalf of investors who purchased The Bancorp, Inc. ("The Bancorp" or the "Company") (NASDAQ: TBBK) common stock between April 24, 2013 and June 10, 2014.
For more information, click here: http://zlk.9nl.com/the-bancorp-tbbk.
The complaint alleges that throughout the Class Period defendants issued false and misleading statements and/or failed to disclose that: (a) the Company had under-reserved for loan losses due to adverse loans; (b) The Bancorp's operations and credit practices were in violation of the Bank Secrecy Act ("BSA"); and (c) as a result of the above, the Company's financial statements were materially false and misleading at all relevant times.
On June 10, 2014 the Company filed a Form 8-K acknowledging it had entered into a Stipulation and Consent to the Issuance of a Consent Order with the FDIC. The 8-K further noted that the Consent Order requires The Bancorp take "certain affirmative actions to comply with its BSA obligations..."
If you suffered a loss in The Bancorp you have until September 16, 2014 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/the-bancorp-tbbk.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
The Bancorp, Inc. is a financial holding company. The Company's segments include Specialty Finance and Payments. Its primary lines of specialty lending include securities-backed lines of credit (SBLOC) and cash value of insurance-backed lines of credit (IBLOC), leasing (direct lease financing), Small Business Administration (SBA) loans and non-SBA commercial real estate (CRE) loans. Its SBLOCs and IBLOCs are loans which are generated through institutional banking affinity groups and are respectively collateralized by marketable securities and the cash value of insurance policies. It offers investment advisor financing to investment advisors. The Company also offers small business loans (SBL), which are comprised primarily of SBA loans and vehicle fleet and, to a lesser extent, other equipment leasing to small and medium sized businesses. Its SBLOCs and IBLOCs are offered in conjunction with brokerage accounts. The Companyâs subsidiary is The Bancorp Bank, National Association.