RM LAW, P.C. announces that a class action lawsuit has been filed in United States District Court for the Southern District of California on behalf of all persons or entities that purchased BofI Holding, Inc. (“BofI” or the “Company”) (NASDAQ: BOFI) securities between March 16, 2015 through March 13, 2017, inclusive (the “Class Period”).
BofI shareholders may, no later than June 2, 2017, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of BofI and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, visit: www.maniskas.com/case/bofi.
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.
If you are a member of the class, you may, no later than June 2, 2017, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as “lead plaintiff.” Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.