#United States #Class Action #New Orleans #Kahn Swick #The Bancorp

Class Action Alert for The Bancorp Investors

In a crucial update for investors impacted by losses exceeding $100,000, Kahn Swick & Foti, LLC (KSF), alongside their partner, former Louisiana Attorney General Charles C. Foti, Jr., has announced significant legal proceedings concerning The Bancorp, Inc. (Ticker: TBBK). Investors are cautioned about the deadline for filing lead plaintiff applications in a class action lawsuit against the company, emphasizing the importance of swift action.

Background on the Lawsuit

The current legal action stems from allegations that The Bancorp and its executives failed to provide vital disclosures, which is a violation of federal securities laws. The class action applies to those who purchased the company's securities between January 25, 2024, and March 4, 2025. Notably, the U.S. District Court for the District of Delaware is managing this case. This legal situation poses significant implications for shareholders.

On March 4, 2025, The Bancorp informed the public of their inability to file their fiscal year 2024 annual report on time. This revelation led to a concerning announcement that its financial statements from 2022 through 2024 should no longer be trusted. The company indicated that they faced issues with their auditors, impacting the reliability of their reported data.

Immediate Actions for Investors

Deadline Alert: Investors who are eligible to participate in this lawsuit have until May 16, 2025, to file their lead plaintiff applications. Failure to meet this deadline could result in losing a potential opportunity for recovery from their investment losses.

For those interested in understanding their rights and the impact of this case on their investments, KSF offers a complimentary consultation. Investors can reach out to KSF Managing Partner Lewis Kahn at 1-877-515-1850 or via their website. This is an essential step for anyone who believes they possess a claim against The Bancorp due to financial mismanagement or lack of transparency from the company.

What's Next for Shareholders?

Upon the news of the audit report issues, The Bancorp's stock experienced a notable decline, falling $2.34 or 4.38% to close at $51.25 on March 5, 2025, highlighting the market's negative response to the company's disclosures. As the case proceeds, shareholders will likely continue to keep a close watch on the developments, awaiting further information that may affect their investments.

About Kahn Swick & Foti, LLC

KSF is regarded as a preeminent boutique securities litigation firm in the United States. The firm has known expertise in representing clients across a spectrum of public and private entities, with a strong track record of securing recoveries for customers affected by corporate misconduct. With representation in several cities including New York and New Orleans, KSF maintains a commitment to helping investors navigate complex legal landscapes and secure their rights.

For more detailed information regarding the Bancorp lawsuit or for assistance with your investment losses, visiting www.ksfcounsel.com can prove beneficial.

Conclusion

The ongoing situation surrounding The Bancorp underscores the importance of vigilance among investors, particularly when faced with potential class actions. As the legal proceedings unfold, affected shareholders are urged to act swiftly to protect their interests.