Levi & Korsinsky notifies investors that it has commenced an investigation into Axos Financial, Inc. (NYSE: AX) concerning potential violations of the federal securities laws.
On June 4, 2024, Hindenburg Research released a report about Axos that raised serious concerns about Axos' credit metrics and suggested potential manipulation or distortion. The report particularly highlighted that Axos' disclosed loan-to-value (LTV) ratios in commercial real estate were significantly lower than those of its peers- 17% less than the median average of nine similar financial entities. Furthermore, accusations from a former Axos credit review officer, which were documented in litigation records, claimed that Axos habitually misrepresented the average LTV ratios of its loans to investors. Following this report Axos' share price was trading down in pre-market trading on June 4, 2024.
If you suffered a loss on your Axos securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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