Class Action Announcement TBBK: A Securities Fraud Class Action Lawsuit Was Filed Against The Bancorp, Inc. (TBBK)

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][2]. Allegations Against Bancorp - The lawsuit claims that Bancorp underrepresented the risk of default or loss on its real estate bridge loans portfolio [2] - It is alleged that Bancorp's expected credit loss methodology was inadequate to account for credit losses [2] - The complaint suggests that Bancorp was likely to increase its provision for credit losses due to these issues [2] - There were claims of material weaknesses in Bancorp's internal control over financial reporting [2] - The financial statements of Bancorp were reportedly not approved by its independent auditor, leading to questions about their reliability [2] - Positive statements made by Bancorp regarding its business and prospects were deemed materially misleading [2] Lead Plaintiff Process - Investors in Bancorp can seek to be appointed as lead plaintiffs by May 16, 2025, or choose to remain absent class members [3] - The lead plaintiff represents the interests of all class members in the litigation [3] - The lead plaintiff selects counsel to represent the class, and participation as a lead plaintiff does not affect the ability to share in any recovery [3] Firm Background - Kessler Topaz Meltzer & Check, LLP has a reputation for prosecuting class actions and has recovered billions for victims of corporate misconduct [4]