NEW YORK, Nov. 15, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Mitsubishi UFJ Financial Group, Inc. ("MUFG" or the "Company") ( NYSE: MTU). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/mtu.
The investigation concerns whether MUFG and certain of its officers and/or directors have violated Federal Securities Laws.
On November 7, 2017, MUFG converted the New York state license of a bank branch in New York to a federal license, with approval from the Office of the Comptroller of the Currency (the "OCC"). On November 15, 2017, citing a letter from the New York Department of Financial Services ("DFS") to the OCC, The Wall Street Journal reported that MUFG's license conversion followed a report by an independent monitor that "the bank was 'taking actions that are inconsistent with complying' with a consent order it had agreed to in 2014 related to hiding illicit transactions involving Iran and other countries, including 'the termination of a competent and cooperative Chief Compliance Officer' in March and a 'lack of transparency' with the monitor about transaction data problems." In its letter to the OCC, the DFS asserted that it "was not given any reasonable opportunity to provide any input whatsoever" into MUFG's application for a federal banking license, and that "[t]he precipitous nature of this approval . . . is without precedent and raises significant questions as to both the process and substance of the OCC's decision." Following this news, MUFG's American depositary receipt price has dropped as much as $0.21 per share, or 3.16%, during intraday trading on November 15, 2017.
If you are aware of any facts relating to this investigation, or purchased MUFG shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/mtu. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
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