On Tuesday, Shares of Banc of California Inc (NYSE:BANC), SUBTRACT -29.05% and closed at $11.26 in the last trading session. BANC stock opened its last trade at $15.99 and after floating in a range of $10.93 to $16.13. The company’s Market capitalization is $536.76 Million with the total Outstanding Shares of 49.48 million. During the 52-week trading session the minimum price at which share price traded, registered at $10.93 and reached to max level of $23.24.The Earnings per Share of the company stands at $1.43. Banc of California, Inc. (BANC) recently declared it is aware of allegations posted in a financial blog. The Company’s Board of Directors has been aware of matters regardingJason Galanis counting certain claims he had made suggesting an affiliation with members of the Company, its Board, and/or its Executive team. The Board, acting through its Disinterested Directors, right away initiated a thorough independent investigation led by Winston & Strawn, and has received regular reports counting related to regulatory and governmental communications over the past year.
The complaint filed by the Department of Justice against Mr. Galanis and others dated May 9, 2016, which is found here, clearly states that Mr. Galanis’ claims to be associated with COR Capital were fraudulent. See paragraphs 40 and 41 of the Sworn Statement of the Special Agent of the Federal Bureau of Investigation which states:
“40. Based on my conversation with a representative of COR Capital, I have learned that, contrary to the representations made in the June 3, 2014 email sent by JASON GALANIS, the defendant, to MICHELE MORTON, the defendant, (referenced in paragraph 39c above), Burnham, CORFA and Wealth-Assurance AG were not associates of COR Capital.
Shares of Mentor Graphics Corp (NASDAQ:MENT), added 1.55% and closed at $28.81 in the last trading session. MENT stock opened its last trade at $28.50 and after floating in a range of $28.33 to $28.92. The company’s Market capitalization is $3.21 Billion with the total Outstanding Shares of 108.16 million. During the 52-week trading session the minimum price at which share price traded, registered at $16.10 and reached to max level of $28.92.The Earnings per Share of the company stands at $0.54.Mentor Graphics Corporation (MENT), recently declared that a panel of judges for the Court of Appeals for the Federal Circuit has, in a precedential opinion, unanimously confirmed the invalidity of three synthesis patents owned by Synopsys, Inc. (SNPS).
Synopsys had asserted the patents against Mentor Graphics in the Federal District Court for the Northern District of California, alleging that Mentor Graphics emulators and FPGA synthesis tools infringed the patents. The District Court in 2015 determined that the patents were invalid. Yesterday, the Court of Appeals affirmed the District Court’s decision.