NEW YORK, April 04, 2017 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against BofI Holding, Inc. (“BofI” or the “Company”) (Nasdaq:BOFI) in the United States District Court for the Southern District of California on behalf of a class consisting of investors who purchased or otherwise acquired BofI stock on the open market from April 28, 2016 through March 30, 2017, inclusive (the “Class Period”), seeking to recover compensable damages caused by Defendants’ violations of the Securities Exchange Act of 1934.
The Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) BofI was engaged in unlawful conduct; (ii) the foregoing conduct, when it became known, would subject the Company to heightened regulatory scrutiny and potential criminal sanctions; and (iii) as a result, BofI’s public statements were materially false and misleading at all relevant times.
On March 31, 2017, the New York Post published an article entitled “Feds probe Bank of Internet for possible money laundering,” disclosing that the Company was the subject of a probe led by the Justice Department and involving the Securities and Exchange Commission and the Treasury Department. On this news, BofI’s share price fell $1.45 or 5.26%, to close at $26.13 on March 31, 2017.
If you wish to serve as lead plaintiff, you must move the Court no later than June 2, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
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