Investors Urged to Act: Class Action Against The Bancorp Coming to Deadline

Investors Urged to Take Action in Class Action Against The Bancorp

In a reminder to shareholders, ClaimsFiler has issued a call to action for investors who have suffered losses of over $100,000 due to their investments in The Bancorp, Inc. (NasdaqGS: TBBK). These investors have until May 16, 2025, to submit lead plaintiff applications in a class action lawsuit currently pending in the United States District Court for the District of Delaware. This lawsuit targets not only the company itself but also certain executives associated with it, alleging serious omissions in disclosing material information that may have affected stock prices.

Background on the Lawsuit

The crux of the lawsuit rests on the claim that The Bancorp and its executives failed to disclose important information to shareholders during the specified class action period from January 25, 2024, to March 4, 2025. On March 4, 2025, The Bancorp made an announcement that sent shockwaves through the market, indicating an inability to file timely its annual report for fiscal year 2024. Moreover, they mentioned that certain financial statements from previous years should not be relied upon due to issues with auditor approval.

This announcement revealed that the financial figures for the fiscal years ending on December 31 from 2022 to 2024 would necessitate additional scrutiny. The company indicated that they were in the process of re-evaluating how consumer fintech loans are accounted for, which suggests internal controls over financial reporting might have been compromised. As a direct result of this revelation, shares of The Bancorp plummeted by approximately 4.38%, causing a loss of $2.34 to share prices, which closed at $51.25 on March 5, 2025. The high trading volume surrounding this downturn highlights the investor sentiment and potential panic following the disclosure.

The Importance of Acting Now

Shareholders impacted by this situation should consider acting promptly, as the deadline set for filing lead plaintiff applications approaches. Investors seeking assistance can visit ClaimsFiler's website or reach out via their toll-free support line at (844) 367-9658 for more information on legal options available to them.

The legal team at Kahn Swick & Foti, LLC emphasizes the necessity of timely action, highlighting their preparedness to discuss various legal strategies that could enable recoveries from those who have incurred excess losses due to this situation. Given the complexities of securities class action lawsuits, individuals who qualify can significantly benefit from the wisdom and experience of legal counsel when navigating potential claims.

About ClaimsFiler

ClaimsFiler serves as an essential resource for retail investors seeking to reclaim their investments from securities class action settlements. Their platform offers a free registration process, which provides access to information on various ongoing class action cases. Investors are encouraged to upload their portfolio transactional data to receive timely notifications regarding cases they may have a financial interest in. Furthermore, ClaimsFiler allows inquiry submissions for free case evaluations by the Kahn Swick & Foti law firm, underscoring their commitment to empowering investors.

In this climate of uncertainty, proactively addressing potential losses is not just advised, but crucial. Investors are reminded to monitor developments within this lawsuit closely and to leverage available resources as they move forward in this challenging landscape.

Conclusion

As the deadline approaches for lead plaintiff applications in the class action lawsuit against The Bancorp, investors with significant losses are urged to act decisively. The stakes are high, and ensuring that proper legal channels are pursued could be vital for recovery. The landscape of securities investing is complex, but taking informed actions can offer hope for affected investors. Stay informed, stay prepared, and leverage the available resources to safeguard your interests in the face of these challenges.