The Law Offices of Frank R. Cruz announces an investigation of The Bancorp, Inc. (“TBBK” or the “Company”) (NASDAQ: TBBK) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On March 21, 2024, Culper Research published a report alleging, among other things, that TBBK has “misrepresented the quality of its real estate bridge loan (‘REBL’) portfolio”, estimating TBBK to have losses anywhere from ten to fifteen times higher than the Company’s actual reserves.
On this news, TBBK’s stock price fell $3.63, or 10.2%, to close at $32.12 per share on March 21, 2024, thereby injuring investors.
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If you purchased TBBK securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240327421143/en/
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
