IRVINE, Calif., May 23, 2017 (GLOBE NEWSWIRE) -- Khang & Khang LLP (the “Firm”) announces a securities class action lawsuit against Citizens Financial Group, Inc. (“Citizens Financial” or the “Company”) (NYSE:CFG). Investors who purchased or otherwise acquired shares between March 18, 2016 and March 29, 2017, inclusive (the “Class Period”), are encouraged to contact the Firm before the June 26, 2017 lead plaintiff motion deadline.
If you purchased Citizens Financial shares during the Class Period, please contact Joon M. Khang, Esq., of Khang & Khang LLP, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone at (949) 419-3834, or by e-mail at joon@khanglaw.com.
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
According to the Complaint, throughout 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 employees faked “financial checkup” meetings with customers. Citizens Financial 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 information, the Company’s stock price fell materially, which harmed investors according to the Complaint.
If you wish to learn more about this lawsuit, or if you have questions about this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone at (949) 419-3834, or by e-mail at joon@khanglaw.com.
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