NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. is investigating potential claims against Banc of California, Inc. (NYSE:BANC) concerning possible violations of the federal securities laws.
On October 18, 2016, an article published on Seeking Alpha alleged that Banc of California had concealed numerous connections between it and Jason Galanis, who has been convicted of criminal securities fraud, including that: (1) Banc of California CEO Jason Sugarman was the founder, CEO, and indirect owner of a company controlled by Galanis; and (2) separately, Galanis controlled Banc of California's founding shareholder. The Seeking Alpha article also alleged that Banc of California had used an off-balance sheet entity to make loans to insiders. On this news, shares of Banc of California fell over 29% per share to close at $11.26 per share on October 18, 2016.
If you purchased Banc of California securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact J. Brandon Walker, Esq. by email at email@example.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information, please go to www.bespc.com.