Securities,
Civil Litigation
Dec. 4, 2019
Banc of California settles securities class action for nearly $20 million
The deal approved this week dismisses ex-CEO Steven A. Sugarman as a defendant
SANTA ANA - A securities class action related to Banc of California, Inc.'s relationship with a now-imprisoned fraudster has settled for $19.75 million.
A third of the money preliminarily approved this week in the Central District is expected to go to plaintiffs' firm Robbins Geller Rudman & Dowd LLP for attorney fees related to the nearly three-year litigation, which settled in mediation last summer. The rest, at 31 cents per s...
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