The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Central District of California on behalf of investors who purchased Banc of California, Inc. (NYSE: BANC) securities between August 7, 2015 and January 23, 2017.
According to the complaint, throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose material adverse facts, including: (1) that the Company had extensive ties to an alleged “fraudster” named Jason Galanis (“Galanis”); (2) that, given Galanis’ history, the Company’s ties to Galanis created substantial regulatory risk; (3) that revelation of Galanis’ ties to the Company could cause a substantial decline in the market price of the Company’s securities; (4) that the Company allegedly misled investors concerning the Company’s connections with Galanis; and (5) that, as a result of the foregoing, Defendants’ positive statements about Banc of California’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
If you suffered a loss in Banc of California you have until March 24, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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