The Bancorp(TBBK) Prnewswire·2025-04-12 13:59Core 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]. Group 1: 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, leading to a likely increase in provisions for credit losses [2]. - The complaint states there were material weaknesses in Bancorp's internal control over financial reporting and that its financial statements were not approved by an independent auditor [2]. - As a result of these issues, the financial statements could not be relied upon, and positive statements made by the company were misleading [2]. Group 2: Lead Plaintiff Process - Investors in Bancorp can seek to be appointed as a lead plaintiff representative of the class by May 16, 2025, or choose to remain absent [3]. - The lead plaintiff will act on behalf of all class members and select counsel to represent the class [3]. - Participation as a lead plaintiff does not affect the ability to share in any recovery from the lawsuit [3]. Group 3: Firm Information - Kessler Topaz Meltzer & Check, LLP is handling the class action and has a reputation for prosecuting class actions and recovering significant amounts for victims of corporate misconduct [4].