Lawsuit for Investors in shares of The Bancorp, Inc. (NASDAQ: TBBK) announced by the Shareholders Foundation

Core Viewpoint - A lawsuit has been filed against The Bancorp, Inc. (NASDAQ: TBBK) by an investor, alleging violations of securities laws related to undisclosed risks and financial reporting issues [2]. Group 1: Lawsuit Details - The lawsuit claims that The Bancorp underrepresented the significant risk of default or loss on its REBL loan portfolio [2]. - Allegations include that the company's expected credit loss methodology was insufficient, leading to a likely increase in provisions for credit losses [2]. - The plaintiff asserts there were material weaknesses in internal controls over financial reporting, and that financial statements were not approved by an independent auditor, making them unreliable [2]. Group 2: Investor Information - Shareholders who purchased shares of The Bancorp, Inc. prior to February 2024 and continue to hold them are encouraged to contact the Shareholders Foundation for options [1][3]. - The Shareholders Foundation provides services related to shareholder issues, including information on securities class actions and legal news [3].