Axos Financial, Inc. (NYSE: AX)

This investigation is for anyone who acquired securities in Axos Financial, Inc. (NYSE: AX) prior to June 4, 2024.

The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that the Company misled investors by telling investors that the Company had standards for making loans but then making loans that deviated from its standards.

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, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Axos Financial, Inc. (NYSE: AX) prior to June 4, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.