TBBK ALERT: Bancorp Investors with Losses Face May 16 Class Action Deadline
The Bancorp, Inc. Investors with Losses are Reminded of the Imminent May 16 Class Action Deadline
NEW YORK, NY / ACCESSWIRE / May 10, 2022 / The securities litigation law firm of Bernstein Liebman LLP reminds investors of the May 16, 2022 deadline to file a lead plaintiff motion in a class action lawsuit filed on behalf of investors who purchased or acquired the securities of The Bancorp, Inc. (NASDAQ: TBBK) between January 28, 2020 and April 21, 2021.
A class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons who purchased or acquired the securities of The Bancorp, Inc. (NASDAQ: TBBK) between January 28, 2020 and April 21, 2021. The lawsuit seeks to recover losses suffered by investors who acquired the company's securities during the class period.
The lawsuit alleges that, throughout the class period, defendants made false and misleading statements about the company's financial performance, business operations, and internal controls. Specifically, the complaint alleges that defendants failed to disclose that the company's reported financial results were inflated due to the improper recognition of revenue and the failure to properly account for certain transactions.
On April 21, 2021, the company announced that it would be restating its financial results for the fiscal years 2020 and 2019, and that it would be conducting an internal investigation into the matter. The company's stock price declined significantly following the announcement, causing investors to suffer substantial losses.
Investors who purchased or acquired the securities of The Bancorp, Inc. (NASDAQ: TBBK) between January 28, 2020 and April 21, 2021, and suffered losses, are encouraged to contact Bernstein Liebman LLP to discuss their legal rights and options. Investors may also contact the firm at (877) 363-2393 or info@bernsteinliebman.com to learn more about the lawsuit and the filing deadline.