NEW YORK, June 30, 2024 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Axos Financial, Inc. (“Axos” or the “Company”) (NYSE: AX). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Axos and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On June 4, 2024, Hindenburg Research published a report alleging that Axos is “exposed to the riskiest asset classes with lax underwriting standards and a loan book filled with multiple glaring problems.” The report describes schemes to hide underperforming loans, including “providing loans to non-performing or doubtful borrowers to avoid recognizing problems,” and a so-called “extend and pretend” scheme.
On this news, Axos’s stock price fell $2.21 per share, or 4.21%, to close at $50.25 per share on June 4, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected] 646-581-9980 ext. 7980
