BOSTON, Oct. 14, 2015 /PRNewswire/ -- Shares in BofI
Holding, Inc. ("BofI" or the "Company") (NASDAQ: BOFI) have plunged
as much as $41, nearly 29%, in early
trading after a former internal auditor at the Company filed a
lawsuit on October 13, 2015, alleging
that he was fired for exposing corporate and regulatory wrongdoing.
The loss in market capitalization as a result of the recent news
represents approximately $606 million
in aggregate lost investor value.
The lawsuit alleges, among other things, that BofI, based in
San Diego with approximately
$6 billion in assets, side-stepped
internal and regulatory controls by failing to provide full and
timely information to regulators. As quoted in the
New York Times, the auditor's counsel
has characterized the Company's actions as "among the most
egregious [she has] seen from a publicly traded company." As
the Times article reported "[a]ccording to the complaint, Bank of
Internet was also not forthcoming with the Securities and Exchange
Commission when the agency sought information about an account at
the bank."
Block & Leviton LLP, a Boston-based securities litigation firm, is
investigating BofI and certain of its officers and directors for
possible violations of the federal securities laws.
If you purchased BofI stock that is impacted by the recent
announcements and have questions about your legal rights, or if you
have information relevant to this investigation, please contact
attorney Steven P. Harte of Block
& Leviton LLP at (617) 398-5600 or at Steven@blockesq.com.
Confidentiality for any whistleblowers or other persons with
information relevant to the investigation is assured.
Block & Leviton represents investors for violations of
securities laws as well as whistleblowing employees who provide
information about their employers' violations of law throughout the
country. The firm's lawyers have collectively been
prosecuting securities cases for over 70 years, have recovered
billions of dollars for investors and represent some of the
nation's largest institutional investors.
This notice may constitute attorney advertising.
Contact:
BLOCK & LEVITON LLP
Steven P. Harte
(617) 398-5600
Steven@blockesq.com
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SOURCE Block & Leviton LLP