NEW YORK, April 25, 2017 (GLOBE NEWSWIRE) -- 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.
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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.
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
