Pomerantz LLP filed a class action lawsuit against ServBanc Holdco, Inc., ServBank, National Association, IF Bancorp, Inc., and every member of IF Bancorp's board of directors, the firm announced on June 18, 2026. The suit names ServBanc Holdco as successor in interest to IF Bancorp — the company behind the Nasdaq-listed IROQ ticker — placing the post-reorganization entity squarely in the frame for liabilities that arose under its predecessor.
The Defendants: Corporate Entities and the Board
Three distinct corporate bodies appear on the defendant list: ServBanc Holdco, Inc.; ServBank, National Association; and IF Bancorp, Inc. itself. Alongside them, the individual members of IF Bancorp's board of directors are named as defendants. Targeting board members personally alongside the company is a standard structure in shareholder class actions — it reaches the decision-makers, not only the corporate vehicle they operated.
Successor Liability and the ServBanc Holdco Designation
The phrase "successor in interest" is doing significant work in this filing. When IF Bancorp reorganized and ServBanc Holdco emerged in its place, the plaintiffs are arguing that the new entity stepped into the legal shoes of the old one — inheriting not just its assets but its obligations. That framing is designed to ensure a corporate reorganization cannot serve as a firebreak against claims that predate the transaction.
What It Means for IROQ Shareholders
A class action consolidates claims from multiple shareholders alleging the same injury into a single legal proceeding. Investors who held IROQ shares may have standing to participate regardless of whether they retained Pomerantz LLP directly. The details that would define the full scope of the case — the specific allegations, the class period, and any damages sought — had not been disclosed in the initial firm announcement.