TBBK - The Bancorp (TBBK) Falls After Culper Accuses Company of Misrepresenting Quality of its Property Loans - Hagens Berman | Benzinga

SAN FRANCISCO, March 21, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges The Bancorp, Inc. (NASDAQ:TBBK) investors who suffered substantial losses to submit your losses now.

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The Bancorp, Inc. (NASDAQ:TBBK) Investigation:

On Mar. 21, 2024, The Bancorp shares sharply declined after activist short seller Culper Research took aim at the bank holding company, alleging that TBBK has misrepresented the quality of its real estate bridge loan ("REBL") portfolio and contending that TBBK's related loss reserves are woefully inadequate.

Culper's detailed allegations have led prominent investors' rights law firm, Hagens Berman, to open an investigation into possible securities law violations.

The report, entitled "The Bancorp Inc. (NASDAQ TBBK): Bridge to Nowhere," is based on Culper's loan-by-loan analysis, visits to 21 different TBBK-funded properties in the past 2 weeks, conversations with former TBBK employees including a REBL underwriter, and conversations with several TBBK borrowers/syndicators.

As but one example, Culper points out that even though an unnamed borrower on a ...

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