Important Investor Alert: The Bancorp, Inc. Securities Class Action Lawsuit
New York, NY and New Orleans, LA, April 11, 2025 – Kahn Swick & Foti, LLC (KSF) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind 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”) if they purchased the Company’s securities between January 25, 2024 and March 4, 2025, inclusive (the “Class Period”).
Background on The Bancorp, Inc. (TBBK)
The Bancorp, Inc. is a financial services holding company that provides various banking and non-banking services, including master banking, program management, and digital banking solutions. The Company operates through its subsidiaries, including The Bancorp Bank and TBK Bank, SSB.
The Allegations
The complaint alleges that during the Class Period, the Company made false and/or misleading statements and/or failed to disclose that:
- The Company’s financial statements contained material misstatements and omissions regarding its loan loss reserves;
- The Company’s loan underwriting processes were inadequate and failed to properly assess credit risk;
- The Company’s loan portfolio contained significant concentrations of loans to high-risk industries and borrowers;
- The Company’s board of directors failed to implement adequate risk management policies and procedures;
- As a result of the above, the Company was at an increased risk of material financial losses and regulatory scrutiny.
Impact on Individual Investors
If you purchased The Bancorp, Inc. securities during the Class Period, you may be eligible to recover your losses, including damages. To be eligible, you must be a member of the class and in order to be a member, you must have purchased The Bancorp, Inc. securities between January 25, 2024 and March 4, 2025. You may, however, still be able to participate in the litigation if you held securities before or after the Class Period and have suffered losses and are able to prove the causation link to the alleged misconduct. The lead plaintiff will act on behalf of all other class members in managing the litigation.
Impact on the World
The securities class action lawsuit against The Bancorp, Inc. is significant because it highlights the importance of accurate financial reporting and proper risk management in the financial services industry. The allegations of inadequate loan underwriting processes, material misstatements in financial statements, and failure to assess credit risk are not unique to The Bancorp, Inc. and serve as a reminder to all companies in the industry to prioritize transparency and accountability. This lawsuit also demonstrates the role of shareholder advocacy in holding companies accountable for their actions and ensuring that investors are protected.
Conclusion
If you purchased The Bancorp, Inc. securities during the Class Period and have suffered losses, we encourage you to contact KSF to discuss your potential recovery. You may also remain an absent class member and do nothing at this point. If you wish to learn more about this lawsuit, or if you have any questions concerning this announcement, please contact KSF at 1-877-515-1850 or [email protected].
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust, and consumer class actions, along with mergers & acquisitions and complex commercial litigation. The firm is located in New York, New Jersey, and Louisiana and maintains offices in New York, New Jersey, and Baton Rouge.
Contact:
Kahn Swick & Foti, LLC
1-877-515-1850
[email protected]
1100 Poydras St., Suite 3200
New Orleans, LA 70113
100 Broadway, 4th Floor
New York, NY 10038
1165 Route 46 East, Suite 600
Parsippany, NJ 07054
