NEW YORK, July 18, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm announced today that a class action lawsuit has been filed on behalf of all purchasers of the securities of The Bancorp, Inc. (Nasdaq:TBBK) between April 24, 2013 and June 10, 2014, seeking to recover investors' losses under the federal securities laws.
To join The Bancorp class action, go to the website at http://www.rosenlegal.com/cases-295.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, defendants issued false and misleading statements or failed to disclose that: (1) the Company had under-reserved for loan losses due to adverse loans; (2) Bancorp's operations and credit practices were in violation of the Bank Secrecy Act ("BSA"); and (3) as a result of the above, the Company's financial statements were materially false and misleading at all relevant times. The suit claims when this adverse information entered the market the price of The Bancorp securities dropped, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 16, 2014. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm focuses on prosecuting securities class action litigation and actions involving financial fraud. The Rosen Law Firm represents investors throughout the globe.