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Court OKs The Bancorp's settlement terms with respect to class action lawsuit

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Court OKs The Bancorp's settlement terms with respect to class action lawsuit

The U.S. District Court for the District of Delaware on Dec. 15 approved the terms of the settlement agreement The Bancorp Inc. and all other individually named defendants had agreed upon July 27 with respect to a consolidated class action securities lawsuit.

Under the settlement agreement, the Wilmington, Del.-based company will pay cash consideration to the plaintiffs, which will be fully funded by its insurance carriers.