The Bancorp Class Action Lawsuit: Important Deadline for Investors with Significant Losses

Important Notice for The Bancorp Investors

In a recent announcement, Kahn Swick & Foti, LLC, a leading securities litigation law firm, alongside former Louisiana Attorney General Charles C. Foti, Jr., has alerted investors of a significant deadline regarding a class action lawsuit against The Bancorp, Inc. This action emphasizes the rights of investors who have suffered losses exceeding $100,000 during the specific period of January 25, 2024, to March 4, 2025. The last date to apply as a lead plaintiff is set for May 16, 2025.

Background of the Case

The lawsuit revolves around allegations that The Bancorp and its executives failed to disclose crucial financial information, constituting a violation of federal securities laws. On March 4, 2025, The Bancorp disclosed serious disconcerting news—that it would not be filing its fiscal year 2024 annual report on time. The company indicated that its financial statements from 2022 through 2024 should no longer be considered reliable, as their auditors did not approve the inclusion of their audit opinion in certain registration statements.

Furthermore, The Bancorp mentioned it was expediting additional procedures to address accounting issues related to consumer fintech loans and evaluating the implications of their non-reliance on disclosure controls and procedures. Following this revelation, the share price of The Bancorp plummeted by 4.38%, a decrease of $2.34, closing at $51.25 on March 5, 2025, in an unusually high trading volume.

Your Legal Rights

Investors who purchased securities during the class period and seek to understand their legal rights can reach out to KSF Managing Partner Lewis Kahn. For potential lead plaintiff candidates, it is crucial to petition the court by the aforementioned deadline to secure their position.

To connect with Lewis Kahn on legal matters regarding this case, investors can contact him toll-free at 1-877-515-1850 or email lewis.kahn@ksfcounsel.com. For those interested in more information, visiting the KSF website is encouraged.

About Kahn Swick & Foti, LLC

Kahn Swick & Foti, LLC stands as one of the top boutique securities litigation law firms in the United States, led by former Louisiana Attorney General Charles C. Foti, Jr. Known for its commitment to securing recoveries for clients affected by corporate malfeasance, KSF has been recognized nationally for its performance in securities settlement values.

The firm caters to both public and private institutional investors and retail investors, showcasing its capability in dealing with complex securities matters with profound industry knowledge.

Conclusion

The class action against The Bancorp marks a critical moment for affected investors seeking to reclaim losses. As the May 16 deadline approaches, it is imperative for potential claimants to act promptly and understand their rights. With proper legal guidance and a profound dedication to justice, Kahn Swick & Foti, LLC is ready to assist investors through these challenging times.