#USA #Charles C. Foti #Kahn Swick & Foti #New Orleans #Bancorp Inc

Investors Alert: Class Action Lawsuit Against The Bancorp

As financial markets continue to bring uncertainty in 2025, recent developments involving The Bancorp, Inc. are drawing attention from investors. Kahn Swick & Foti, LLC, a prominent securities litigation firm led by former Louisiana Attorney General Charles C. Foti, Jr., is reminding shareholders of The Bancorp about critical deadlines following a troubling class action lawsuit against the company.

Important Deadline Approaching

Shareholders with losses exceeding $100,000, who acquired shares of The Bancorp between January 25, 2024, and March 4, 2025, should take note of the fact that they have until May 16, 2025, to submit their lead plaintiff applications. Failing to act accordingly may result in forfeiting rights to potential recoveries related to their investment losses.

This legal action, which resides in the esteemed United States District Court for the District of Delaware, surfaces from allegations that The Bancorp and its executives neglected to disclose critical information during the specified Class Period. Such non-disclosures fall under potential violations of federal securities laws, representing concerns significant enough to warrant legal consideration.

Uncovering the Financial Irregularities

The concerns surrounding The Bancorp have become more pronounced following a major revelation on March 4, 2025; the company admitted that it would fail to file its fiscal year 2024 annual report on time. Furthermore, The Bancorp indicated that prior financial statements for the fiscal years ending December 31, 2022, through 2024 cannot be relied upon due to the absence of auditor approval for including their audit opinion in crucial documentation. This shockingly unacceptable news predictably impacted shareholder confidence and subsequently caused The Bancorp’s shares to plummet by $2.34 or 4.38%, concluding the trading day on March 5, 2025, at $51.25, amidst higher than ordinary trading volume.

As the situation develops, critics are raising further concerns about the company’s transparency regarding accounting procedures, particularly concerning consumer fintech loans and associated allowance for credit losses. Resolution of these accounting discrepancies is essential for the company to file an amended annual report and may play a pivotal role in the ongoing litigation.

Seeking Justice and Recovery

Those affected by these recent events are encouraged to reach out to Kahn Swick & Foti, LLC for a discussion on their legal rights and options for pursuing recovery. Lewis Kahn, the firm's Managing Partner, is available for consultation via telephone or email.

It is vital for shareholders to be proactive in understanding the potential ramifications of this lawsuit on their investments. Being a part of the ongoing legal proceedings may provide a vital path towards recovery for those facing significant economic losses at the hands of The Bancorp’s corporate mismanagement.

Contact Kahn Swick & Foti, LLC

For further information regarding your rights and the lawsuit, interested shareholders can reach out to:

• - Lewis Kahn, Managing Partner

Email: info@ksfcounsel.com
Phone: 1-877-515-1850
Office: 1100 Poydras St., Suite 960, New Orleans, LA 70163

This lawsuit is aptly designated as Linden v. The Bancorp, Inc., et al. (No. 25-cv-326). As always, investors are advised to remain informed and engaged, especially during these tumultuous times.