NEW ORLEANS, March 20, 2025 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until May 16, 2025 to file lead plaintiff applications in a securities class action lawsuit against The Bancorp, Inc. (“Bancorp” or the “Company”) (NasdaqGS: TBBK), if they purchased the Company’s securities between January 25, 2024 and March 4, 2025, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Delaware.
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Bancorp investors should visit us at https://www.claimsfiler.com/cases/nasdaq-tbbk-1 or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
The Bancorp and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 4, 2025, the Company disclosed that it would be unable to file timely its fiscal year 2024 annual report and that its “financial statements for the fiscal years ended December 31, 2022 through 2024 as shown in the Annual Report should no longer be relied upon” because its auditors for those years “did not provide approval to include [the] audit opinion . . . or [the] consent to the incorporation by reference of their audit report in certain registration statements.” Further, the Company revealed it is “working expeditiously to perform and complete additional closing procedures related to accounting for consumer fintech loans in the allowance for credit losses” in order to file an amended annual report, and that it “is evaluating the impact of this non-reliance on its conclusions regarding disclosure controls and procedures and internal control over financial reporting.”
On this news, the price of Bancorp’s shares fell $2.34, or 4.38%, to close at $51.25 per share on March 5, 2025, on unusually heavy trading volume.
The case is Linden v. The Bancorp, Inc., et al., No. 25-cv-326.
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