LOS ANGELES, May 3, 2017 /PRNewswire/ -- Lundin Law PC , a shareholder rights firm, announces the filing of a class action lawsuit against Citizens Financial Group, Inc. ("Citizens Financial" or the "Company") (NYSE: CFG) concerning possible violations of federal securities laws. Investors who purchased shares between March 18, 2016 and March 29, 2017 inclusive (the "Class Period"), should contact the firm prior to the June 26, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or e-mail him at firstname.lastname@example.org.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, during the Class Period, Citizens Financial made false and/or misleading statements and/or failed to disclose that: the Company's employees were falsifying information related to the Citizens Checkup program; that the Company's reported Citizens Checkup figures were exaggerated; and that as a result of the above, Citizens Financial's statements about its business, operations and prospects, were false and misleading and/or lacked a reasonable basis at all relevant times. On March 29, 2017, the Wall Street Journal reported that certain Citizens Financial employees acknowledged that Company employees faked "financial checkup" meetings with customers. The Company stated that the "Citizens Checkup" program resulted in 400,000 scheduled appointments in 2016, but the report stated that former employees said they falsified information due to the Company's pressure to meet certain program expectations. Upon release of this news, Citizen Financial's stock price fell materially, which harmed investors according to the Complaint.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders' rights.
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SOURCE Lundin Law PC