Pomerantz LLP announces that a class action lawsuit has been filed against BofI Holding, Inc. (“BofI” or the “Company”) (NASDAQ:BOFI) and certain of its officers. The class action, filed in United States District Court, Southern District of California, and docketed under 17-cv-00667 is on behalf of a class consisting of investors who purchased or otherwise acquired BofI securities, seeking to recover compensable damages caused by defendants’ violations of the Securities Exchange Act of 1934.
If you are a shareholder who purchased BofI securities between April 28, 2016 and March 30, 2017, both dates inclusive, you have until June 2, 2017 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.
BofI Holding, Inc. operates as the holding company for Bank of Internet USA. The Bank provides consumer and business banking products in the United States.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) BofI was engaged in unlawful conduct; (ii) the foregoing conduct, when it became known, would subject the Company to heightened regulatory scrutiny and potential criminal sanctions; and (iii) as a result, BofI’s public statements were materially false and misleading at all relevant times.
On March 31, 2017, pre-market, the New York Post published an article entitled “Feds probe Bank of Internet for possible money laundering,” disclosing that the Company was the subject of a probe led by the Justice Department and involving the Securities and Exchange Commission and the Treasury Department.
On this news, BofI’s share price fell $1.45 or 5.26%, to close at $26.13 on March 31, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com