NEW YORK, July 19, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Axos Financial, Inc. ("Axos" or the "Company") (NYSE: AX). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.

The investigation concerns whether Axos and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On June 4, 2024, Hindenburg Research published a report alleging that Axos is "exposed to the riskiest asset classes with lax underwriting standards and a loan book filled with multiple glaring problems." The report describes schemes to hide underperforming loans, including "providing loans to non-performing or doubtful borrowers to avoid recognizing problems," and a so-called "extend and pretend" scheme. 

On this news, Axos's stock price fell $2.21 per share, or 4.21%, to close at $50.25 per share on June 4, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Danielle Peyton

Pomerantz LLP

dpeyton@pomlaw.com

646-581-9980 ext. 7980

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SOURCE Pomerantz LLP