NEW YORK, Oct. 19, 2016
NEW YORK, Oct. 19, 2016 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Banc of California, Inc. ("Banc of California" or the "Company") (NYSE: BANC).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to properly disclose that certain Banc of California insiders had undisclosed ties to individuals accused of involvement with the collapse of Gerova Financial.
Specifically, on October 18, 2016, Seeking Alpha published a report alleging that the Company had concealed that its CEO, Jason Sugarman, was the founder, CEO, and indirect owner of a company controlled by Jason Galanis, an individual convicted of criminal securities fraud in the Gerova Financial scandal. The article also alleged that Banc of California had used an off-balance sheet entity to make loans to insiders and that Galanis controlled COR Capital when it was a founding shareholder of Banc of California. As result of the aforementioned allegations, the value of Banc of California stock has significantly declined.
Request more information now by clicking here: www.faruqilaw.com/BANC. There is no cost or obligation to you.
If you invested in Banc of California securities and would like to discuss your legal rights, visit www.faruqilaw.com/BANC. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Banc of California's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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