Company Website:
http://www.faruqilaw.com/CFG
NEW YORK -- (Business Wire)
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds
investors in Citizens Financial Group, Inc. (“Citizens” or the
“Company”) (NYSE:CFG) of the June 26, 2017 deadline to seek the role of
lead plaintiff in a federal securities class action lawsuit filed
against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the Southern
District of New York on behalf of all those who purchased Citizens
securities between March 18, 2016 and March 29, 2017 (the “Class
Period”). The case, Warner v. Citizens Financial Group, Inc. et al,
No. 17-cv-03004 was filed on April 25, 2017.
The lawsuit focuses on whether the Company and its executives violated
federal securities laws by failing to maintain proper internal controls
within the “Citizens Checkup” program that would prevent potential
falsification of information by Company’s employees.
Specifically, on March 29, 2017, the Wall Street Journal (“WSJ”)
reported that certain Citizens employees admitted that Company employees
faked “financial checkup” meetings with customers due to pressure within
the Company to meets expectations related to the program. While the
Company claimed that the “Citizens Checkup” program resulted in 400,000
scheduled appointments in 2016, the WSJ reported that at least some of
these appointments were fabricated.
After the announcement, Citizens’s share price fell during heavy volume
trading from $35.03 per share on March 28, 2017 to a closing price of
$34.49 on March 29, 2017.
Request more information now by clicking here: www.faruqilaw.com/CFG.
There is no cost or obligation to you.
Take Action
You can also contact us by calling Richard Gonnello toll free at
877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.
Faruqi & Faruqi, LLP also encourages anyone with information regarding
Citizens’s conduct to contact the firm, including whistleblowers, former
employees, shareholders and others.
The court-appointed lead plaintiff is the investor with the largest
financial interest in the relief sought by the class that is adequate
and typical of class members who directs and oversees the litigation on
behalf of the putative class. Any member of the putative class may move
the Court to serve as lead plaintiff through counsel of their choice, or
may choose to do nothing and remain an absent class member. Your ability
to share in any recovery is not affected by the decision of whether or
not to serve as a lead plaintiff.
Attorney Advertising. The law firm responsible for this advertisement is
Faruqi & Faruqi, LLP (www.faruqilaw.com).
Prior results do not guarantee or predict a similar outcome with respect
to any future matter. We welcome the opportunity to discuss your
particular case. All communications will be treated in a confidential
manner.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170429005005/en/
Contacts:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New
York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone:
(877) 247-4292 or (212) 983-9330
Source: Faruqi & Faruqi, LLP
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