LOS ANGELES, April 03, 2024 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of The Bancorp, Inc. (“TBBK” or “the Company”) (NASDAQ: TBBK) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. The Bancorp is the subject of a report issued by Culper Research (“Culper”) on March 21, 2024. According to the report, “TBBK's book also appears rife with unsophisticated syndicated borrowers” with “‘get rich quick dreams’ who believed that they could easily rehab units, fill them with tenants, increase rents, and cash out for quick ‘passive’ returns.” The report continues, “for these properties, none of these things have happened: costs have skyrocketed, vacancies remain high, rents have remained relatively stagnant, and interest rates have more than doubled.” Culper concludes, “TBBK's $4.7 million in reserves, at just 0.24% of its REBL book, are a total farce.”
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We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
info@schallfirm.com
