IRVINE, Calif., Oct. 19, 2016
IRVINE, Calif., Oct. 19, 2016 /PRNewswire/ -- Banc of California, Inc. (NYSE: BANC) today announced that Seeking Alpha commented on a previous financial blog post regarding the Company.
At 8:54 a.m. ET, Seeking Alpha admitted, "This item was posted as an instablog, which is not subject to editorial approval." Four minutes later, Seeking Alpha posted an update to the story, acknowledging that a government investigation "showed the shady Jason Galanis fabricated his connections to bank CEO Steven Sugarman's COR Capital."
Additionally, Bloomberg noted relating to allegations contained in the instablog, "An FBI agent said in a separate court filing that some or all of the claims were false."
The Board of Directors of Banc of California will provide additional information as appropriate.
About Banc of California, Inc.
Banc of California, Inc. (NYSE: BANC) provides comprehensive banking services to California's diverse businesses, entrepreneurs and communities. Banc of California operates over 100 offices in California and the West.
This press release includes forward-looking statements within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are necessarily subject to risk and uncertainty and actual results could differ materially from those anticipated due to various factors, including those set forth from time to time in the documents filed or furnished by Banc of California, Inc. with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements and Banc of California, Inc. undertakes no obligation to update any such statements to reflect circumstances or events that occur after the date on which the forward-looking statement is made.
INVESTOR RELATIONS INQUIRIES:
Banc of California, Inc.
Timothy Sedabres, (855) 361-2262
David Herbst, (213) 973-4113 x101
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SOURCE Banc of California, Inc.