Press release
Investigation announced for Investors in RBB Bancorp (NASDAQ: RBB) over potential Wrongdoing
An investigation on behalf of investors in RBB Bancorp (NASDAQ: RBB) shares over potential wrongdoing at RBB Bancorp was announced
Investors who purchased shares of RBB Bancorp (NASDAQ: RBB) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain RBB Bancorp directors breached their fiduciary duties and caused damage to the company and its shareholders.
Los Angeles, CA based RBB Bancorp operates as the bank holding company for Royal Business Bank that provides various banking products and services to the Chinese-American, Korean-American, and other Asian-American communities. RBB Bancorp reported that its annual Total Revenue rose from $118.71 million in 2020, to $143 million in 2021, and that its Net Income rose from $32.92 million in 2020, to $56.9 million in 2021.
On Feb. 18, 2022, RBB Bancorp announced the departure of the EVP and Chief Lending Officer (Tammy Song) of RBB Bancorp's wholly owned subsidiary Royal Business Bank.
Then on Feb. 22, 2022, RBB Bancorp announced its President and CEO (Alan Thian) would take a leave of absence, effective immediately, pending an internal investigation being conducted by a special committee of the company's board of directors.
Shares of RBB Bancorp (NASDAQ: RBB) declined from $27.43 per share on February 02, 2022, to as low as $20.68 per share on February 24, 2022.
Those who purchased shares of RBB Bancorp (NASDAQ: RBB) have certain options and should contact the Shareholders Foundation.
Contact:
Christopher Clausen
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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