SAN FRANCISCO, Dec. 02, 2015 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, reminds investors with losses over $100,000 of the December 14, 2015 lead plaintiff deadline in the securities fraud class action lawsuit filed against BofI Holding, Inc. (NASDAQ:BOFI) related to false and misleading statements made by the Company about its business and operations.
If you have sizeable losses in your investments in BOFI securities during the Class Period, contact Hagens Berman Partner Reed Kathrein, who is leading the firm’s investigation, by calling (510) 725-3000, emailing BOFI@hbsslaw.com or visiting www.hbsslaw.com/cases/BOFI. The case was filed in the U.S. District Court for the Southern District of California on behalf of shareholders who purchased BOFI securities between September 4, 2013 and October 13, 2015.
BofI operates as the holding company for BofI Federal Bank (d/b/a “Bank of Internet”), a provider of consumer and business banking products, including mortgages to high-net-worth individuals with poor credit.
The complaint alleges that throughout the Class Period, defendants misrepresented and failed to disclose that: (i) the Company’s internal controls were frequently disregarded; (ii) Bank of Internet made loans to foreign nationals and criminals in violation of the Bank Secrecy Act; (iii) many Bank of Internet accounts lacked required tax identification numbers; and (iv) BofI fired an internal auditor who raised the foregoing issues to the Company’s management and to federal regulators. When this information was revealed by the New York Times on October 13, 2015, the price of BofI shares fell $42.87 per share, or 30.19%, to close at $99.13 per share on October 14, 2015.
If you lost more than $100,000 in your investments in BOFI securities between September 4, 2013 and October 13, 2015, inclusive, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.
Whistleblowers: Persons with non-public information regarding BOFI should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at (510) 725-3000 or email BOFI@hbsslaw.com.
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Hagens Berman is headquartered in Seattle, Washington with offices in nine cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. Read the Firm’s Securities Newsletter at http://www.hbsslaw.com/hagens-berman-investor-fraud-center/securitites-newsletter, and visit the blog at www.meaningfuldisclosure.com. For the latest news visit http://www.hbsslaw.com/cases/pressreleases or follow us on Twitter at @classactionlaw.
Contact:
Reed Kathrein, (510) 725-3000
