RADNOR, Pa., Nov. 27, 2015 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP announces that a shareholder class action lawsuit has been filed against BofI Holding, Inc. (Nasdaq:BOFI) (“BOFI” or the “Company”) on behalf of purchasers of the Company’s securities between September 4, 2013 and October 13, 2015, inclusive (the “Class Period”).
For additional information about this lawsuit, or to request information about this action online, please visit http://www.ktmc.com/new-cases/bofi-holding-inc.
Bank of Internet USA (“Bank of Internet”), a BofI subsidiary, provides mortgages to high net worth individuals for the purchase of expensive properties.
As more fully detailed in the shareholder class action complaint, on October 13, 2015, The New York Times reported that a former internal auditor at Bank of Internet filed a lawsuit against the Company alleging that it had violated federal laws designed to protect whistleblowers. Among other things, the former internal auditor’s lawsuit alleged that (i) Bank of Internet’s borrowers “included foreign nationals who should have been off-limits under the federal anti-money-laundering laws,” (ii) Bank of Internet “at times failed to provide full and timely information to regulators,” and (iii) that the former internal auditor “was fired after he revealed wrongdoing at Bank of Internet to management and regulators.”
On this news, shares of BofI’s common stock declined $42.87 per share, or 30.2%, to close on October 14, 2015 at $99.13 per share.
BofI shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299–7706 or at info@ktmc.com.
BOFI shareholders who purchased their securities during the Class Period may, no later than December 14, 2015, petition the Court for appointment as a lead plaintiff of the class.
A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class in the action. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers. The complaint in this action was not filed by Kessler Topaz Meltzer & Check. For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com.