BofI Holding, Inc.
Period: Apr 28, 2016 to Mar 30, 2017
Lead Plaintiff Deadline: Jun 2, 2017
Summary of Case:
A securities class action has been filed against BofI Holding, Inc. ("BofI" or the "Company") (NASDAQ:BOFI) on behalf of a class consisting of investors who purchased or otherwise acquired BofI securities between April 28, 2016 through March 30, 2017. This case has been filed in the USDC - Southern District of California.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) BofI was engaged in unlawful conduct; (ii) the foregoing conduct, when it became known, would subject the Company to heightened regulatory scrutiny and potential criminal sanctions; and (iii) as a result, BofI's public statements were materially false and misleading at all relevant times.
On March 31, 2017, pre-market, the New York Post published an article entitled "Feds probe Bank of Internet for possible money laundering," disclosing that the Company was the subject of a probe led by the Justice Department and involving the Securities and Exchange Commission and the Treasury Department.
On this news, BofI's share price fell $1.45 or 5.26%, to close at $26.13 on March 31, 2017.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.