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Investigation announced for Long-Term Investors in shares of Fifth Third Bancorp (NASDAQ: FITB)

08-01-2020 01:16 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors in Fifth Third Bancorp (NASDAQ: FITB) shares over potential wrongdoing.

An investigation on behalf of investors in Fifth Third Bancorp (NASDAQ: FITB) shares over potential wrongdoing.

An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Fifth Third Bancorp.

Investors who purchased shares of Fifth Third Bancorp (NASDAQ: FITB) and currently hold any of those Fifth Third Bancorp (NASDAQ: FITB shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Fifth Third Bancorp (NASDAQ: FITB officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.

On April 7, 2020 a lawsuit was filed against Fifth Third Bancorp (NASDAQ: FITB) over alleged securities laws violations. According to that complaint filed in the U.S. District Court for the Northern District of Illinois the plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that as a result of Fifth Third Bank’s aggressive incentive policies to promote its cross-sell strategy, Fifth Third Bank employees engaged in unauthorized conduct with customer accounts, that since at least 2008, Fifth Third Bank, and by extension, Fifth Third, was aware of such unauthorized conduct and, thus, that it was violating relevant regulations and laws aimed at protecting its consumers, that Fifth Third failed to properly implement and monitor its cross-sell program, detect and stop misconduct, and identify and remediate harmed consumers, that all the foregoing subjected the Company to a foreseeable risk of heightened regulatory scrutiny or investigation, that Fifth Third’s revenues were in part the product of unlawful conduct and thus unsustainable, and that as a result, the Company’s public statements were materially false and misleading at all relevant times.

Those who purchased shares of Fifth Third Bancorp (NASDAQ: FITB) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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