NEW ORLEANS, March 17, 2017 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., reminds investors that they have until March 24, 2017 to file lead plaintiff applications in a securities class action lawsuit against Banc of California, Inc. (NYSE:BANC), if they purchased the Company’s securities between August 7, 2015 and January 23, 2017, inclusive (the “Class Period”). The action is pending in United States District Court for the Central District of California.
What You May Do
If you purchased securities of Banc of California and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by March 24, 2017.
About the Lawsuit
Banc of California and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On October 18, 2016, SeekingAlpha published an article alleging that the Company’s senior officers and board members have ties to Jason Galanis, who purportedly has a “long history of secretly gaining control of banks and public companies via front men, looting assets, and leaving unsuspecting investors and taxpayers with hundreds of millions in losses.”
Then, on January 23, 2017, the Company disclosed the resignation of its CEO and the opening of an SEC investigation into the Company.
On this news, the price of the Company’s shares plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.