Lieff Cabraser serves as Class Counsel for court-appointed lead plaintiff and Class Representative, Houston Municipal Employees Pension System (“HMEPS”), in this securities fraud class action against BofI Holding, Inc. and certain of its senior officers and directors.  In re BofI Holding, Inc. Securities Litigation, No. 3:15-cv-2324 (S.D. Cal.).  The action charges defendants with issuing materially false or misleading statements about the Company’s loan underwriting standards, system of internal controls, and compliance infrastructure.

On August 24, 2021, Judge Gonzalo P. Curiel certified a class of investors that purchased or otherwise acquired shares of the publicly traded common stock of BofI, as well as purchasers of BofI call options and sellers of BofI put options, between September 4, 2013 and October 13, 2015.  In the same order, Judge Curiel appointed HMEPS as Class Representative and Lieff Cabraser as Class Counsel.

On April 15, 2022, HMEPS filed a motion for preliminary approval of a proposed settlement of $14.1 million (“Settlement”).  Judge Curiel preliminarily approved the Settlement on June 8, 2022.  A final approval hearing is scheduled for October 7, 2022 at 1:30 pm pacific at 221 West Broadway, Courtroom 2D, San Diego, CA 92101.

On July 25, 2022, HMEPS filed a motion for attorneys’ fees and expenses, and class representative service award. This motion will be heard at the October 7, 2022 final approval hearing. A copy of the motion can be downloaded here.

For more information about the Settlement and how to submit a claim, please visit https://www.bofisecuritieslitigation.com/.

Read our Securities and Investment Fraud Practice Area brochure