Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of Banc of California Inc (NYSE: BANC) violated securities laws in connection with certain financial statements.
The investigation seeks to discover if possible claims on behalf of purchasers of the securities of Banc of California Inc (NYSE: BANC) concerning whether a series of statements by Banc of California Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On December 8, 2017, a report by Bloomberg revealed that a former Banc of California employee had filed a lawsuit against the bank alleging, in part, that: (1) revenue generated by the Company in 2016 was improperly carried over to the following year in order to inflate 2017 profits; and that (2) the Company had ignored its former Chief Financial Officer's use of Company funds to patronize strip clubs.
Following this news, NYSE: BANC fell $0.60 per share, or 2.76%, to close at $21.15 on December 8, 2017.
Based in Irvine, California, and founded in 1941 Banc of California Inc operates as the bank holding company for Banc of California, National Association that provides banking products and services in the United States.
If you purchased shares of Banc of California Inc (NYSE: BANC) on or before December 8, 2017, you should contact Thieler Law Corp at firstname.lastname@example.org or call +1 (619) 377 - 4324.
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