Bancorp investors urged to join class action lawsuit before deadline
- Rosen Law Firm reminds investors of important deadlines regarding securities of The Bancorp, Inc.
- Investors may be entitled to compensation through a no fee arrangement for purchasing securities during the defined class period.
- Potential claimants must file to serve as lead plaintiff by May 16, 2025, to participate in the class action.
In New York, United States, Rosen Law Firm has issued a reminder to investors regarding The Bancorp, Inc. concerning a securities class action that spans from January 25, 2024, to March 4, 2025. A significant deadline for filing as lead plaintiff is set for May 16, 2025. Investors who acquired Bancorp securities during this specified period potentially qualify for compensation without incurring out-of-pocket costs due to the firm’s contingency fee arrangement. The law firm, reputed for its expertise in securities class actions, highlights that many firms merely serve as intermediaries, lacking the litigation experience necessary to effectively represent clients in such cases. The lawsuit claims that Bancorp made numerous misleading or false statements during the class period. This included downplaying risks associated with its real estate bridge loan portfolio and an inadequate current expected credit loss methodology. Consequently, the firm was projected to increase its provision for credit losses, alongside material weaknesses in its internal control over financial reporting. The legal landscape indicates that investors' trust in Bancorp was adversely impacted when the truth behind these statements became public, resulting in claims for damages due to misleading information regarding the company’s operations and financial status. The Rosen Law Firm has achieved notable success in the field, including the largest securities class action settlement involving a Chinese company at one point. Additionally, it has been recognized for the highest number of such settlements in 2017. While the particulars of this case are still unfolding, potential participants are advised to seek counsel before the looming deadline. Interested parties are encouraged to contact Phillip Kim, Esq. for more information on how to proceed with the class action. As no class has been certified yet, investors have the option to select their legal representation of choice. This case illustrates the complexities surrounding securities litigation and underscores the importance of timely legal action for affected investors. The situation continues to evolve as more investors seek to understand their rights and the implications of the lawsuit against The Bancorp, Inc.