id: 320, Created by Stan Vick Chase, Scout
Axos Financial Inc
How it works?
- Company agreed to pay compensation to its investors, to avoid further litigation
- We help you to prepare documents and file for compensation
Claim deadline for this case already passed by, but we can still try and file for compensation for you
04 Sept 2013Class period Start
13 Oct 2015Class period End
07 Nov 2022Claim deadline
In re BofI Holding, Inc. Securities Litigation.
Axos agreed to pay $14.1 million to settle a securities class action lawsuit accusing the Company of deceiving investors about business, operations and compliance policies.
The Complaint alleged that throughout the Class Period, the Company made false and misleading statements or failed to disclose that:
- the Company’s internal controls were frequently disregarded;
- Bank of Internet’s borrowers included foreign nationals who should have been off-limits under federal anti-money-laundering laws;
- many Bank of Internet accounts lacked required tax identification numbers;
- Bank of Internet fired an internal auditor who raised the foregoing issues to management and to federal regulators;
After several years of court proceedings, Axos agreed to settle with investors to avoid further litigation.
Houston Municipal Employees Pension System
Lieff Cabraser Heimann & Bernstein, LLP
Hon. Gonzalo P. Curiel
JND Legal Administration
Court hearing date
07 October 2022
+$14,100,000Total Settlement Amount