Axos Financial's stock fell after Hindenburg Research accused it of lax underwriting, loan "evergreening," and "extend and pretend" schemes.
Axos Financial's stock has fallen after short seller Hindenburg Research accused the company of lax underwriting standards, loan "evergreening," and "extend and pretend" schemes. The report, based on interviews with 21 former employees and industry experts, claims the company's loan book is filled with high-risk assets and significant issues. Axos is now under investigation by the Schall Law Firm and shareholder rights law firm Johnson Fistel, LLP for potential violations of securities laws.
June 04, 2024
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