SAN DIEGO, Oct. 19, 2016 /PRNewswire/ -- Shareholder Rights Law Firm Johnson & Weaver, LLP has commenced an investigation of Banc of California, Inc. (NYSE: BANC) concerning possible violations of federal securities laws. Banc of California operates 35 branches and provides banking products and services in the United States.
On October 18, 2016, an article published by Seeking Alpha stated that Banc of California's most senior executives and board members have extensive ties to Jason Galanis, a person with a long history of gaining control of lenders and public companies by means of using front men and looting the assets. The Seeking Alpha article also alleged that Banc of California had used an off-balance sheet lender controlled by its Vice Chairman to make loans to insiders.
On the news Banc of California shares closed down 29% on October 18, 2016.
If you have information that could assist in this investigation, including past employees and others, or if you are a Banc of California shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (firstname.lastname@example.org) by email or phone at 619-814-4471. If emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP