Robbins LLP Announces that Banc of California, Inc. (BANC) Securities Class Action Survives Motion to Dismiss

November 20, 2017 (San Diego, CA & Irvine, CA) – Shareholder rights law firm Robbins LLP is investigating whether certain officers and directors of Banc of California (NYSE: BANC) breached their fiduciary duties to shareholders. On January 26, 2017, a securities class action complaint was filed against Banc of California in the U.S. District Court for the Central District of California for alleged violations of the Securities Exchange Act of 1934. The complaint alleged that Banc of California and certain of its executives had undisclosed ties to Jason Galanis, an individual with an extensive history of criminal securities fraud, which created a significant regulatory risk for the company. In a September 6, 2017 order, the Honorable Andrew J. Guilford of the U.S. District Court for the Central District of California denied in part Banc of California's motion to dismiss in In re Banc of California Securities Litigation.

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