Cases
Banc of California, Inc. (BANC)
Securities Class Action
Overview
Overview
- Date:
- 1/1/2017
- Status:
- Closed/Complete
NEW YORK, November 3, 2016 – Bragar Eagel & Squire, P.C. is investigating potential claims on behalf of Banc of California, Inc. (NYSE: BANC) stockholders concerning whether the company’s officers and board of directors violated the federal securities laws.
On October 18, 2016, an article published on Seeking Alpha alleged that Banc of California had concealed numerous connections between it and Jason Galanis, who has been convicted of criminal securities fraud, including that: (1) Banc of California CEO Jason Sugarman was the founder, CEO, and indirect owner of a company controlled by Galanis; and (2) separately, Galanis controlled Banc of California's founding shareholder. The Seeking Alpha article also alleged that Banc of California had used an off-balance sheet entity to make loans to insiders. On this news, shares of Banc of California fell over 29% per share to close at $11.26 per share on October 18, 2016.
If you purchased Banc of California securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
On October 18, 2016, an article published on Seeking Alpha alleged that Banc of California had concealed numerous connections between it and Jason Galanis, who has been convicted of criminal securities fraud, including that: (1) Banc of California CEO Jason Sugarman was the founder, CEO, and indirect owner of a company controlled by Galanis; and (2) separately, Galanis controlled Banc of California's founding shareholder. The Seeking Alpha article also alleged that Banc of California had used an off-balance sheet entity to make loans to insiders. On this news, shares of Banc of California fell over 29% per share to close at $11.26 per share on October 18, 2016.
If you purchased Banc of California securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.