Glancy Prongay & Murray LLP (“GPM”) announces that it has filed a class action lawsuit in the United States District Court for the Central District of California on behalf of a class (the “Class”) consisting of persons and entities that purchased or otherwise acquired Banc of California, Inc. (“Banc of California” or the “Company”) (NYSE: BANC) securities between October 29, 2015, and January 20, 2017, inclusive (the “Class Period”).

If you are a member of the Class described above, you may move the Court no later than sixty days from the date of this notice, to serve as lead plaintiff. Please contact Lesley Portnoy at 888-773-9224 or 310-201-9150, or at shareholders@glancylaw.com to discuss this matter.

The complaint filed in this lawsuit alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects, including: (1) that the Company had extensive ties to an alleged “fraudster” named Jason Galanis (“Galanis”); (2) that, given Galanis’ history, the Company’s ties to Galanis created substantial regulatory risk; (3) that revelation of Galanis’ ties to the Company could cause a substantial decline in the market price of the Company’s securities; (4) that the Company allegedly misled investors concerning the Company’s connections with Galanis; and (5) that, as a result of the foregoing, Defendants’ positive statements about Banc of California’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On January 23, 2017, Banc of California announced the resignation of its CEO, Steven A. Sugarman, and that the United States Securities and Exchange Commission had opened an investigation into whether the Company had misled investors in its response to an October 2016 Seeking Alpha report disclosing a connection between the Banc of California and an alleged fraudster named Jason Galanis.

On this news the Company’s shares fell $1.50 per share, or nearly 10%, to close on January 23, 2017 at $14.65 per share, on unusually high volume of over 6 million shares.

If you purchased shares of Banc of California during the Class Period you may move the Court no later than sixty days from the date of this notice to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150, by e-mail to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.

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