The Shareholders Foundation announces that an investigation on behalf of investors of Bancorp Inc (NASDAQ:TBBK) shares was launched concerning potential securities laws violations by Bancorp and certain of its directors and officers.
Investors who purchased shares of Bancorp Inc (NASDAQ:TBBK) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Bancorp Inc (NASDAQ:TBBK) concerning whether a series of statements by BancorpK regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Bancorp Inc reported that its annual Net Income rose from $5.22 million in 2010 to $25.11 million in 2013. Shares of Bancorp Inc (NASDAQ:TBBK) grew from $51.0 epr share in October 2009 to as high as $19.98 per share in March 2014.
Then on June 10, 2014, Bancorp Inc disclosed that The Bancorp Bank (the “Bank”), a wholly owned subsidiary of The Bancorp, Inc., entered into a Stipulation and Consent to the Issuance of a Consent Order (the “Order”) with the Federal Deposit Insurance Corporation (the “FDIC”). Bancorp Inc said that the Order requires Bancorp Inc to take certain affirmative actions to comply with its ank’s Bank Secrecy Act obligations, among them: appoint a qualified ank’s Bank Secrecy Act /OFAC officer; revise the written ank’s Bank Secrecy Act Compliance Program; develop and implement additional policies and procedures for suspicious activity monitoring and reporting; review and enhance customer due diligence and risk assessment processes; review past account activity to determine whether suspicious activity was properly identified and reported; strengthen internal controls, including augmenting Board oversight regarding ank’s Bank Secrecy Act activities; establish an independent testing program and develop policies and procedures to govern staffing and training for ank’s Bank Secrecy Act compliance.
Shares of Bancorp Inc dropped from $16.21 per share on June 10, 2014, to $10.21 per share on June 11, 2014. On June 20, 2014 NASDAQ:TBBK shares closed at $11.86 per share.
Those who purchased shares of Bancorp Inc (NASDAQ:TBBK) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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