NEW YORK, June 14, 2023 (GLOBE NEWSWIRE) -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of First Horizon Corporation (NYSE: FHN).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/first-horizon-class-action-loss-submission-form/?id=40780&from=3
The lawsuit seeks to recover losses for shareholders who purchased First Horizon between February 28, 2022 and May 3, 2023.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until July 21, 2023 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to the complaint, defendants made false statements and/or concealed that TD Bank failed to disclose material information to the market that it had deficient internal controls that posed a significant risk to the closing of the First Horizon transaction. Specifically, TD Bank suffered from grossly ineffective internal controls regarding anti-money laundering practices and failed to appropriately report unusual transactions or suspicious activity to U.S. regulators. According to a report published by The Wall Street Journal, in “recent years,” TD Bank only “flagged 28 customer transactions” as suspicious. As a result, the Office of the Comptroller of the Currency and the U.S. Federal Reserve refused to approve the transaction within the necessary time frames.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887
