NEW YORK, June 21, 2017 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Citizens Financial Group, Inc. (“Citizens” or the “Company”) (NYSE:CFG) securities and certain of its officers, on behalf of a class who purchased Citizens securities between March 18, 2016 and March 29, 2017, (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/cfg.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements about its business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Citizen employees were falsifying information related to the Citizens Checkup program; (2) as a result, the Company’s reported Citizens Checkup figures were exaggerated; and (3) consequently, Defendants’ statements about Citizens’ business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On March 29, 2017, the Wall Street Journal (“WSJ”) reported that certain Citizens employees acknowledged that Company employees faked “financial checkup” meetings with customers. Citizens stated that the “Citizens Checkup” program resulted in 400,000 scheduled appointments in 2016, but the WSJ reported that former employees said they falsified information due to the Company’s pressure to meet certain program expectations. Following this news Citizens stock price dropped.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/cfg or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Citizens you have until June 26, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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.