RBB Bancorp Investigation
The law firm of Kirby McInerney LLP is investigating potential claims against RBB Bancorp (“RBB Bancorp” or the “Company”) (NASDAQ: RBB). The investigation concerns whether RBB Bancorp has violated the federal securities laws and/or engaged in other unlawful business practices.
RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California.
On February 18, 2022, RBB Bancorp announced the abrupt departure of Tammy Song, the EVP and Chief Lending Officer of RBB Bancorp’s wholly owned subsidiary Royal Business Bank.
Four days later, on February 22, 2022, RBB Bancorp announced its President and CEO (Alan Thian) would take a leave of absence, effective immediately, pending an internal investigation being conducted by a special committee of the Company’s board of directors. On this news, RBB Bancorp’s stock price declined by $2.69 per share, or approximately 10.45%, from $25.75 to $23.06 over two trading days.