Johnson Fistel, PLLP Investigates The Bancorp on Behalf of Long-term Shareholders

Shareholder rights law firm Johnson Fistel, PLLP is investigating potential violations of federal and state securities laws by certain officers and directors of The Bancorp, Inc. (NASDAQ: TBBK). Current, long-term shareholders that have continuously held shares during the relevant time periods, may be able to hold certain officers and directors personally accountable for misconduct and assist in reforming the company’s corporate governance.

A class action lawsuit was filed on March 14, 2025, in the U.S. District Court for the District of Delaware on behalf of investors who purchased shares between January 25, 2024, and March 4, 2025. The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that Bancorp had underrepresented the significant risk of default or loss on its REBL loan portfolio; (2) that the Company’s current expected credit loss methodology was insufficient to account for the provision and/or allowance of credit losses; (3) that, as a result of the foregoing, the Company was reasonably likely to increase its provision for credit losses; (4) that there were material weakness in its internal control over financial reporting; (5) that its financial statements had not been approved by its independent auditor; (6) that, as a result of the foregoing, the Company’s financial statements could not be relied upon; and (7) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.