Bank of the Internet (BOFI) Securities Fraud Lawsuit Plaintiffs Win Class Certification in 7-Year-Old Case

As reported by Law360, U.S. District Judge Gonzalo P. Curiel has granted certification to a class of investors represented by Lieff Cabraser who sued BofI federal bank in 2015 for alleged securities fraud which led to the company’s stock plummeting 47%. Investors in BofI, now known as Axos Bank, asserted that confidential witnesses would testify

2021-10-04T22:45:45+00:00August 24th, 2021|Securities Fraud|

Ninth Circuit Court Reverses Dismissal of Bank of Internet (BofI) Securities Fraud Class Action

The Ninth Circuit Court of Appeals has reversed the District Court’s dismissal of the securities fraud class action lawsuit against BofI Federal Bank after finding that a related whistleblower suit and accounts by numerous other former employees, adequately pleaded fraud and scienter on the part of the Bank and its CEO.

2020-10-09T12:42:21+00:00October 9th, 2020|Securities Fraud|