TBBK INVESTOR ALERT: Investigation of The Bancorp, Inc. Announced by The Law Offices of Howard G. Smith
June 30 2015 - 11:00AM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims on behalf of investors The Bancorp,
Inc. (“Bancorp” or the “Company”) (NASDAQ: TBBK) concerning the
Company’s and its officers’ possible violations of federal
securities laws. The investigation focuses on whether the Company
and its executives violated federal securities laws by failing to
disclose losses related to discontinued operations and the
Company’s loan portfolios. Howard G. Smith, Esq. is preparing a
complaint to recover damages suffered by Bancorp investors as a
result of the Company’s alleged fraud.
On June 26, 2015, after the market close, Bancorp announced that
over 2,500 individual loans from discontinued and continuing
business lines were evaluated, and identified approximately $24
million of additional losses that were not previously reported.
Additionally, Bancorp announced that approximately $15 million of
losses related to discontinued loans will be reflected in the
delayed filing of the Form 10-K filing for the 2014 fiscal year. On
this news, shares of Bancorp fell $1.21 per share, or nearly 12%,
to close on June 29, 2015 at $9.29.
If you purchased shares of Bancorp, have information or would
like to learn more about these claims, or have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Howard G. Smith, Esquire,
of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847,
toll-free at (888) 638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20150630005939/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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