SHAREHOLDER ALERT: Goldberg Law PC Announces Securities Class Action Lawsuit against Banc of California, Inc., and Encourages Investors with Losses to Contact the Firm

LOS ANGELES--()--Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Banc of California, Inc., (“Banc” or the “Company”) (NYSE: BANC). Investors who purchased or otherwise acquired Banc shares between October 29, 2015, and January 20, 2017, inclusive (the “Class Period”), are encouraged to contact the firm in advance of the March 23, 2017 lead plaintiff deadline.

If you are a shareholder who suffered a loss during the class period, we advise you to click here, or contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights without cost to you. You can also reach us through the firm’s website at http://www.Goldberglawpc.com, or by email at info@goldberglawpc.com.

Seeking Alpha published an article alleging that Banc of California had hidden numerous connections between it and Jason Galanis, who has been convicted of criminal securities fraud. In particular, the Complaint alleges that: Banc of California CEO Jason Sugarman was the founder, CEO, and indirect owner of a company controlled by Galanis; and that separately, Galanis controlled Banc of California’s founding shareholder.

The Complaint further alleges that Banc of California was using an off-balance sheet entity to issue loans to insiders.

Then, on November 10, 2016, Banc of California revealed it would be stalling the filing of its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2016 so that its Special Committee could complete a review into the aforementioned improper relationships and related party transactions.

On January 23, 2017, Banc of California revealed that the Securities and Exchange Commission is pursuing a formal order of investigation directed at these same issues.

When this information was released to the public, the value of Banc stock fell sharply, causing investors harm.

If you have any questions concerning your legal rights, please immediately contact Goldberg Law PC at 800-977-7401, or visit our website at http://www.Goldberglawpc.com, or email us at info@goldberglawpc.com.

Goldberg Law PC represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Goldberg Law PC, Los Angeles
Michael Goldberg, Esq., 800-977-7401
Brian Schall, Esq., 800-977-7401
info@goldberglawpc.com
http://www.Goldberglawpc.com

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