SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of The Bancorp, Inc. - TBBK - Hawaii News Now - KGMB and KHNL

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of The Bancorp, Inc. - TBBK

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SOURCE Pomerantz LLP

NEW YORK, June 11, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of The Bancorp, Inc. ("The Bancorp" or the "Company") (NASDAQ: TBBK).  Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 237.

The investigation concerns whether The Bancorp and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. 

On June 10, 2014, the Company announced in a Securities and Exchange Commission, (SEC) Form 8-K filing that the Company, "entered into a Stipulation and Consent to the Issuance of a Consent Order (the "Order") with the Federal Deposit Insurance Corporation (the "FDIC") which became effective on June 5, 2014. The Bank took this action without admitting or denying any charges of unsafe or unsound banking practices or violations of law or regulation relating to weaknesses in the Bank's Bank Secrecy Act ("BSA") Compliance Program.

The Order requires the Bank to take certain affirmative actions to comply with its BSA obligations, among them: appoint a qualified BSA/OFAC officer; revise the written BSA Compliance Program; develop and implement additional policies and procedures for suspicious activity monitoring and reporting; review and enhance customer due diligence and risk assessment processes; review past account activity to determine whether suspicious activity was properly identified and reported; strengthen internal controls, including augmenting Board oversight regarding BSA activities; establish an independent testing program and develop policies and procedures to govern staffing and training for BSA compliance."

On this news, shares of The Bancorp fell $4.51 per share to $11.69, or more than 27.81%, in intraday trading on June 11, 2014.

The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com

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