October 20, 2016 (Shareholders Foundation) - An investigation on behalf of investors of Banc of California Inc (NYSE:BANC) shares over potential securities laws violations by Banc of California and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Banc of California Inc (NYSE:BANC) concerning whether a series of statements by Banc of California Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Shares of Banc of California Inc (NYSE:BANC) grew from $9.98 per share in May 2014 to as high as $23.06 per share in August 2016.

On October 18 2016, an article was published claiming, among other things, that certain Banc of California insiders had undisclosed ties to individuals previously accused of involvement with the collapse of Gerova Financial.

Shares of Banc of California Inc (NYSE:BANC) declined from $18.02 per share on October 11, 2016 to as low as $10.93 per share on October 18, 2016.