NASDAQ: TBBK: Kessler Topaz Meltzer & Check, LLP Announces the Filing of a Securities Class Action Lawsuit Against The Bancorp, Inc.

Core Viewpoint - A securities class action lawsuit has been filed against The Bancorp, Inc. for allegedly misleading investors regarding the risks associated with its real estate bridge loans portfolio and internal financial controls [1][3]. Group 1: Lawsuit Details - The lawsuit was filed in the United States District Court for the District of Delaware on behalf of investors who acquired Bancorp securities between January 25, 2024, and March 4, 2025 [1]. - The deadline for investors to seek lead plaintiff status is May 16, 2025 [4]. Group 2: Allegations Against Bancorp - The complaint alleges that Bancorp underrepresented the risk of default on its real estate bridge loans [3]. - It claims that Bancorp's credit loss methodology was inadequate, leading to a likely increase in provisions for credit losses [3]. - The lawsuit also states that there were material weaknesses in Bancorp's internal controls over financial reporting and that its financial statements lacked independent auditor approval [3]. - As a result of these issues, the positive statements made by Bancorp regarding its business and prospects were deemed misleading [3]. Group 3: Legal Representation - Investors can choose to be represented by Kessler Topaz Meltzer & Check, LLP or other counsel, or remain absent from the class [4]. - The lead plaintiff will represent the interests of all class members and select counsel for the litigation [4]. Group 4: Firm Background - Kessler Topaz Meltzer & Check, LLP has a reputation for prosecuting class actions and has recovered billions for victims of corporate misconduct [5].