NEW YORK, Aug. 29, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Franklin Resources, Inc. (âFranklinâ or âthe Companyâ) (: BEN). Investors who purchased Franklin securities are encouraged to obtain additional information and assist the investigation by visiting the firmâs site: bgandg.com/BEN.
Investigation Details
On August 21, 2024, Franklin subsidiary Western Asset Management Company issued a press release announcing that co-Chief Investment Officer Ken Leech âis on a leave of absence, effective immediatelyâ after âreceiv[ing] a Wells Notice from the Staff of the U.S. Securities and Exchange Commissionâ. That same day, Bloomberg reported that â[f]ederal prosecutors in New York are investigating whether a Western Asset Management executive allocated winning trades to favored accounts, as part of a criminal probe into a practice known as âcherry-picking.ââ
On this news, Franklinâs stock price fell $2.84 per share, or 12.56%, to close at $19.78 per share on August 21, 2024.
What's Next?
If you are aware of any facts relating to this investigation or purchased Franklin securities, you can assist this investigation by visiting the firmâs site: bgandg.com/BEN. You can also contact Peretz Bronstein or his client relations manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
There is No Cost to You
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneysâ fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
Attorney advertising. Prior results do not guarantee similar outcomes.
Contact
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | [email protected]
