Wolf Haldenstein Adler Freeman & Herz LLP announces that it is investigating Axos Financial, Inc. for potential violations of federal securities laws

NEW YORK, June 12, 2024

The focus of the investigation is to whether the Company issued false and/or misleading statements and/or did not disclose information pertinent to investors.

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On June 4, 2024, before the market opened, Hindenburg Research issued a report entitled "Axos: Glaring Commercial Real Estate Loan Problems and Lax Underwriting Beneath this Priced-For-Perfection Bank". In this report, Hindenburg stated that its "research, including industry analysis, interviews with 21 former employees, lease agents and industry experts, combined with an examination of Axos' loan book derived through local property records, indicates a company exposed to the riskiest asset classes with lax underwriting standards and a loan book filled with multiple glaring problems."

On this news, Axos Financial's stock fell $2.21 per share, or 4.2%, to close at $50.25 per share on June 4, 2024.

Wolf Haldenstein has experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas, and offices in New York, Chicago, Nashville, and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly lauded by the courts, which have appointed it to major positions in complex securities, multi-district and consolidated litigation.