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BofI Investors Seek Judge’s Approval for Securities Settlement

Feb. 1, 2022, 8:29 PM

BofI Holding Inc. investors who say the company misled them about government money laundering investigations asked a federal judge in California for permission to move ahead with a $900,000 deal to end the case.

The settlement represents a “highly favorable result,” the bank holding company’s investors said in a memo filed as part of their preliminary approval bid in the U.S. District Court for the Southern District of California. BofI, now known as Axos Financial Inc., doesn’t admit wrongdoing as part of the settlement.

The deal represents more than quadruple the $200,000 in estimated damages based on a conservative analysis, ...