---
schema_version: "secwatch.filing_event.v1"
accession: "0001169770-22-000015"
form_type: "8-K"
ticker: "BANC"
cik: "0001169770"
company_name: "BANC OF CALIFORNIA, INC."
filed_at: "2022-03-07T23:59:59+00:00"
generated_at: "2026-06-27T01:03:22.307722+00:00"
event_type: "litigation"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Banc of California settles fraud lawsuit for $39.9M; expects net $31.3M recovery

## Summary
- Settlement with Chicago Title entities resolves claims from $35.1M charge-off on fraudulent 2017 line of credit.
- Net cash recovery after legal fees ~$31.3M (approx $0.36/share after-tax at 27% effective rate).
- Lawsuit filed Oct 2019 and refiled Oct 2020 alleged RICO, fraud, and negligence; settlement releases all claims.
- Charge-off recorded in Q3 2019; settlement reached March 3, 2022.

## SEC filing metadata
- accession: 0001169770-22-000015
- form_type: 8-K
- ticker: BANC
- cik: 0001169770
- company_name: BANC OF CALIFORNIA, INC.
- filed_at: 2022-03-07T23:59:59+00:00
- event_type: litigation
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1169770/000116977022000015/0001169770-22-000015-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1169770/000116977022000015/banc-20220304.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001169770-22-000015
- JSON: https://secwatch.observer/filing/0001169770-22-000015.json
- Plain text: https://secwatch.observer/filing/0001169770-22-000015.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.