The Securities Law Firm of Robbins Geller Rudman & Dowd LLP Files Securities Class Action Lawsuit Against The Bancorp, Inc.
NASDAQ: TBBK - Kessler Topaz Meltzer Check, LLP Announces the Filing of a Securities Class Action Lawsuit
VALLEY VILLAGE, PA / ACCESSWIRE / March 25, 2023 / Kessler Topaz Meltzer Check, LLP announces that a securities class action lawsuit has been filed against Triumph Bancshares, Inc. (NASDAQ: TBBK) on behalf of all persons or entities who purchased or acquired Triumph Bancshares, Inc. common stock between April 21, 2022 and January 26, 2023, inclusive.
The lawsuit alleges that during the class period, defendants made false and misleading statements and/or failed to disclose that the Company's loan portfolio was experiencing significant deterioration, and that the Company's internal controls and risk management processes were inadequate or ineffective.
Specifically, the complaint alleges that defendants failed to disclose that the Company's loan loss provision was inadequate, and that the Company's financial statements and reports were not prepared in accordance with Generally Accepted Accounting Principles ("GAAP").
As a result of the defendants' alleged actions, the Company's stock price was artificially inflated during the class period, causing investors to purchase the Company's common stock at artificially inflated prices.
If you purchased or acquired Triumph Bancshares, Inc. common stock between April 21, 2022 and January 26, 2023, inclusive, you may be affected by this lawsuit and may have the right to join this action or to seek compensation for your investment losses.
Kessler Topaz Meltzer Check, LLP is a leading national securities class action law firm with offices in California, Florida, New York, and Pennsylvania. The firm has prosecuted numerous securities class actions nationwide on behalf of injured investors and continues to be a powerful force in the fight for investors' rights.
Contact: Marilyn Wolf, Esq. Kessler Topaz Meltzer Check, LLP (484) 270-1143 mwolf@ktmc.com