NEW YORK, Jan. 20, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of The Western Union Company ("Western Union" or the "Company") (NYSE: WU). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Western Union and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On January 19, 2017, the U.S. Department of Justice and the Federal Trade Commission announced that Western Union had agreed to pay $586 million and admitted to "aiding and abetting wire fraud" by allowing scammers to process transactions even when the Company realized that its agents were disguising transactions to avoid detection.
On this news, Western Union stock fell 3.30%, or $0.72, to close at $21.13 on January 19, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP