#USA #Los Angeles #Securities Fraud #TBBK #Glancy Prongay

Investors of The Bancorp, Inc. in Class Action Against Securities Fraud

Investors who have lost money on their The Bancorp, Inc. (TBBK) investments may now have the opportunity to take the lead in a significant class action lawsuit. That's the word from Glancy Prongay & Murray LLP, a law firm known for its robust legal advocacy on behalf of investors.

Background of the Lawsuit

This upcoming lawsuit stems from allegations that between January 25, 2024, and March 4, 2025, The Bancorp failed to disclose critical information regarding its financial health and reporting. The complaint specifies multiple deficiencies, including:

1. Underreported Risks: The Bancorp allegedly misrepresented the significant risk of default or loss on its REBL loan portfolio, misleading shareholders about the stability of their investments.
2. Inadequate Loss Methodologies: The firm's methodology for estimating expected credit losses was reportedly insufficient, failing to adequately prepare for potential credit loss scenarios.
3. Increased Provisions for Credit Losses: The complaint suggests that due to the aforementioned issues, the company was likely to raise its provisions for credit losses, a point that was not adequately communicated to investors.
4. Material Weaknesses in Internal Controls: There were reportedly material weaknesses in The Bancorp's internal control over financial reporting, raising questions about the reliability of its financial statements.
5. Lack of Independent Audit Approval: Financial statements issued by the company allegedly did not receive necessary approval from independent auditors, casting further doubt on their validity.
6. Misleading Positive Statements: The complaint claims that The Bancorp's management made positively skewed statements regarding the company's operations, business health, and future prospects, suggestions that were misleading based on the undisclosed issues.

This cocktail of issues has resulted in significant financial distress for investors who trusted in The Bancorp's representations. Many individuals and institutional investors alike could be eligible to join this lawsuit, vying for justice and restitution for their losses.

How to Participate

Eligible investors who believe they have suffered losses on their TBBK holdings are encouraged to step forward. The law firm Glancy Prongay & Murray LLP has set a deadline for potential lead plaintiffs, which is May 16, 2025. Interested parties can participate in the lawsuit by reaching out to the firm to learn about their rights and interests in this matter.

Contact Information

For those who wish to inquire about their eligibility or seek further details, the law firm can be contacted at:

• - Name: Charles Linehan, Esq.
• - Firm: Glancy Prongay & Murray LLP
• - Address: 1925 Century Park East, Suite 2100, Los Angeles, CA 90067
• - Email: contact@glancylaw.com
• - Phone: (310) 201-9150 (Toll-Free: 888-773-9224)
• - Website: www.glancylaw.com

For individuals unsure about joining the class action, no immediate action is necessary. Investors can consult legal counsel of their choosing or remain uninvolved as absent class members.

Conclusion

The complexities surrounding The Bancorp, Inc. present a challenging yet crucial opportunity for affected investors. With the potential for significant claims on the table, this lawsuit could pave the way for justice for those misled by the fraudulent actions of The Bancorp. As the deadline approaches, affected individuals are urged to act swiftly and ensure their voices are heard in this critical matter.