Summary Notice of Pendency of Class Action Involving BofI Holding, Inc. Common Stock, Call Options and Put Options

SEATTLE, Jan. 24, 2022 /PRNewswire/ --

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF CALIFORNIA

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION

This notice is for all persons who purchased or otherwise acquired shares of the publicly traded common stock of BofI Holding, Inc. (now known as Axos Financial, Inc.), as well as purchasers of BofI call options and sellers of BofI put options, between September 4, 2013 through and including October 13, 2015.

A CLASS ACTION LAWSUIT MAY AFFECT YOUR RIGHTS.

YOU MAY BE A MEMBER OF THE CLASS. IF YOU DO NOT WISH TO BE A PART OF THE CLASS, YOU MUST RESPOND TO THIS NOTICE WITH A WRITTEN REQUEST FOR EXCLUSION (SEE BELOW).

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of California, that the above-captioned action ("Action") against BofI Holding, Inc. ("BofI", now known as Axos Financial, Inc.) and Gregory Garrabrants, Andrew J. Micheletti, Paul J. Grinberg, Nicholas A. Mosich, and James S. Argalas (collectively, "Defendants") has been certified as a class action on behalf of the Class, except for certain persons and entities that are excluded from the Class as set forth in the full printed Notice of Pendency of Class Action ("Notice"). Lead Plaintiff Houston Municipal Employees Pension System has been appointed by the Court to represent the Class as the Class Representative. By certifying the Class and issuing the Notice, the Court is not suggesting that the Class Representative will win or lose this case; the Class Representative will instead attempt to prove its claims in proceedings that have not yet occurred.  Defendants deny the allegations of wrongdoing asserted in this Action, and deny any liability whatsoever to any member of the Class.

IF YOU ARE A MEMBER OF THE CLASS, YOUR RIGHTS MAY BE AFFECTED BY THIS LAWSUIT. The printed Notice is currently being mailed to known Class Members. If you have not yet received a printed Notice, you may obtain a copy from the website for the Action, www.BofISecuritiesLitigation.com, or by contacting the Notice Administrator at (888) 921-1538.

If you did not receive the Notice by mail, and you believe you are a member of the Class, please send your name and address to the Notice Administrator so that if any future notices are disseminated in connection with the Action, you will receive them.

Inquiries, other than requests for the Notice, may be made to Court-appointed Class Counsel:

Richard M. Heimann, Katherine Lubin Benson, and Michael K. Sheen
LIEFF CABRASER HEIMANN & BERNSTEIN, LLP
275 Battery Street, 29th Floor
San Francisco, CA 94111
(415) 956-1000

If you are a Class Member, you have the right to decide whether to remain a member of the Class. If you choose to remain a member of the Class, you do not need to do anything at this time other than retain your documentation reflecting your transactions in BofI securities. You will automatically be included in the Class, and you will be bound by the proceedings in this Action, including all past, present and future orders and judgments of the Court, whether favorable or unfavorable. If you are a Class Member and do not wish to remain a member of the Class, you must take steps to exclude yourself from the Class.

If you timely and validly request to be excluded from the Class, you will not be bound by any orders or judgments in the Action, and you will not be eligible to receive a share of any money that might be recovered in the future for the benefit of the Class. To exclude yourself from the Class, you must submit a written request for exclusion postmarked no later than March 21, 2022, in accordance with the instructions set forth in the printed Notice. If at a later date the parties decide to settle before trial, then you will have another opportunity to opt out or exclude yourself from the case. Absent settlement, however, you will not be able to exclude yourself from the Class or subsequent orders and judgments if you do not request exclusion in response to this notice. If you do not exclude yourself from the class, regardless of the outcome of the Action, you will not be able to sue Defendants—as part of any other lawsuit—regarding the factual circumstances and legal claims asserted in this case.

Please Do Not Call or Write the Court or the Defendants with Questions.

BY ORDER OF THE COURT:
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF CALIFORNIA

SOURCE LIEFF CABRASER HEIMANN & BERNSTEIN, LLP