BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Axos Financial, Inc. (“Axos” or the “Company”) (NYSE: AX) investors concerning the Company’s possible violations of federal securities laws.
On June 4, 2024, Hindenburg Research published a report alleging, among other things, that Axos is “a company exposed to the riskiest asset classes with lax underwriting standards and a loan book filled with multiple glaring problems,” with former employees stating that bad credit scores “didn’t kill a deal” and that there was no minimum net worth or minimum liquidity requirements. Additionally, the report states that a former Axos credit officer brought a suit for wrongful termination in March 2022, “claiming [the Company] retaliated against her attempts to raise concerns about compliance at the bank.”
On this news, Axos’s stock price fell as much as 14% during intraday trading on June 4, 2024, thereby injuring investors.
If you purchased Axos securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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