NEW YORK, Aug. 15, 2014 /PRNewswire/ -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the District of Delaware on behalf of investors who purchased The Bancorp, Inc. ("The Bancorp" or the "Company") (NasdaqGS: TBBK) common stock between April 24, 2013 and June 10, 2014.
For more information, click here: http://zlk.9nl.com/the-bancorp-tbbk.
The complaint alleges that throughout the Class Period defendants issued false and misleading statements and/or failed to disclose that: (a) the Company had under-reserved for loan losses due to adverse loans; (b) The Bancorp's operations and credit practices were in violation of the Bank Secrecy Act ("BSA"); and (c) as a result of the above, the Company's financial statements were materially false and misleading at all relevant times.
On June 10, 2014 the Company filed a Form 8-K acknowledging it had entered into a Stipulation and Consent to the Issuance of a Consent Order with the FDIC. The 8-K further noted that the Consent Order requires The Bancorp take "certain affirmative actions to comply with its BSA obligations…"
If you suffered a loss in The Bancorp you have until September 16, 2014 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/the-bancorp-tbbk.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
SOURCE Levi & Korsinsky, LLP