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BANC OF CALIFORNIA NOTIFICATION: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Banc of California, Inc. To Contact The Firm

Mittwoch, 19.10.2016 23:10 von PR Newswire

PR Newswire

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).

Faruqi & Faruqi, LLP. (PRNewsFoto/Faruqi & Faruqi, LLP)

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.

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Take Action

If you invested in Banc of California securities and would like to discuss your legal rights, visit 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 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.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

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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SOURCE Faruqi & Faruqi, LLP