#United States #New York #TBBK #Rosen Law #Bancorp Inc.

Opportunity for TBBK Investors to Join Class Action Lawsuit

Investors in The Bancorp, Inc. (NASDAQ: TBBK) are being urged by the Rosen Law Firm, a prominent global advocate for investor rights, to consider joining a significant class action lawsuit connected to alleged securities fraud. This case specifically impacts those who purchased TBBK securities from January 25, 2024, to March 4, 2025. As the deadline for becoming a lead plaintiff approaches on May 16, 2025, this article provides essential information for interested investors.

Important Deadlines and Actions

If you bought shares of The Bancorp during the noted class period, you may be eligible for compensation without bearing any out-of-pocket expenses, thanks to a contingency fee arrangement. To participate in this class action, investors can visit the Rosen Law Firm's website or contact Phillip Kim, an attorney specializing in these matters. He can be reached toll-free at 866-767-3653, or by email at [email protected] for additional details about joining the lawsuit.

This class action case has already been filed, and those interested in stepping into the role of lead plaintiff must file their motions by the specified deadline. A lead plaintiff represents fellow class members and plays a pivotal role in guiding the litigation process.

Why Choose the Rosen Law Firm?

The Rosen Law Firm's credibility and track record make it a notable option for investors considering legal action. The firm has previously achieved the largest securities class action settlement against a Chinese company and received a top ranking for the number of settlements reached in securities class actions. In fact, they were recognized by ISS Securities Class Action Services as No. 1 in 2017 and have maintained a high-ranking position each year since.

In 2019 alone, they managed to recover over $438 million for investors. The founding partner, Laurence Rosen, has gained recognition in the legal community, having been named a Titan of the Plaintiffs' Bar by Law360 in 2020, further showcasing the firm’s expertise and commitment to investor rights.

Case Background and Allegations

The allegations central to the securities fraud case suggest that during the class period, the defendants made misleading statements and failed to communicate critical information regarding The Bancorp’s operations and financial health. Specific grievances include:

1. Failure to Disclose Risks: The Bancorp allegedly downplayed significant risks associated with its REBL loan portfolio, informing investors insufficiently regarding the potential for default or loss.
2. Inadequate Credit Loss Methodology: It is claimed that the company’s existing expected credit loss methodology did not sufficiently address the need for provisions or allowances for potential credit losses.
3. Material Weaknesses in Internal Controls: The lawsuit raises concerns over serious deficiencies in The Bancorp's internal financial reporting controls, calling into question the reliability of its financial statements.
4. Lack of Independent Auditor Approval: The financial statements purportedly had not received the endorsement of an independent auditor, further compounding the issues.
5. Misleading Positive Statements: As a result of these failures, positive statements about The Bancorp's business and future prospects were deemed materially misleading.

Once these truths became public, the lawsuit argues that investors were left facing substantial financial losses.

Next Steps for Investors

For those who wish to join the class action, it's imperative to understand that no class has been certified yet. That means until a certification is granted, investors are not legally represented unless they obtain their legal counsel. Participants can either choose to join the action or remain absent class members with no obligations for the time being.

The potential for recovery in this case remains dependent on the outcomes of the lawsuit—participating in this class action may provide affected investors the chance to seek restitution for their losses.

Investors are encouraged to stay informed about developments in this case by following the Rosen Law Firm on various platforms such as LinkedIn, Twitter, and Facebook. For more details about the case or to proceed with joining the class action, investors should act quickly as the deadline approaches.

Conclusion

The opportunity for TBBK investors to lead a class action lawsuit against The Bancorp could mark a pivotal moment for affected shareholders. With legal representation from established firms like Rosen Law Firm, investors can navigate the complexities of the legal landscape while seeking justice for the alleged securities fraud.