New Federal Securities Cases
A class action lawsuit has been filed in the United States District Court for the Southern District of California against BofI Holding, Inc. ("BofI" or the "Company") (NASDAQ:BOFI) and certain of its officers, on behalf of investors who purchased or otherwise acquired BofI securities during the period from April 28, 2016 through March 30, 2017 (the "Class Period"). The lawsuit seeks to recover compensable damages caused by defendants' violations of the Securities Exchange Act of 1934.
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 lawsuit alleges that throughout the Class Period, Defendants failed to disclose that BofI was engaged in unlawful conduct would subject the Company to heightened regulatory scrutiny and potential criminal sanctions.
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%, from $27.58 to close at $26.13 on March 31, 2017.
If you acquired BofI securities during the Class Period, you may, no later than June 2, 2017, request that the court appoint you lead plaintiff of the proposed class. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions that could affect the overall recovery for class members, including decisions concerning settlement.
If you are a current or former BofI shareholder and wish to obtain additional information, please fill out the contact form at the link below.
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