| COMPANY |
The Bancorp, Inc. |
| COURT |
United States District Court for the District of Delaware |
| CASE NUMBER |
1:25-cv-00326 |
| JUDGE |
The Hon. Jennifer Lynne Hall |
| CLASS PERIOD |
January 25, 2024, through March 4, 2025 |
| SECURITY TYPE |
Securities |
Case Background:
This is a class action lawsuit filed on behalf of those who purchased or otherwise acquired The Bancorp, Inc. (“Bancorp”) (NASDAQ: TBBK) securities between January 25, 2024, and March 4, 2025, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Bancorp had underrepresented the significant risk of default or loss on its REBL loan portfolio; (2) Bancorp’s current expected credit loss methodology was insufficient to account for the provision and/or allowance of credit losses; (3) as a result, Bancorp was reasonably likely to increase its provision for credit losses; (4) there were material weakness in Bancorp’s internal control over financial reporting; (5) Bancorp’s financial statements had not been approved by its independent auditor; (6) as a result of the foregoing, Bancorp’s financial statements could not be relied upon; and (7) that, as a result of the foregoing, Defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Current Status of Case:
Motions to Appoint Lead Plaintiff and Lead Counsel were filed on May 16, 2025. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.