An investor in NYSE:CFG shares filed a lawsuit against Citizens Financial Group Inc over alleged Securities Laws violations.
Investors who purchased shares of Citizens Financial Group Inc (NYSE:CFG) should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff claims that the Defendants failed to disclose that Company employees were falsifying information related to the Citizens Checkup program, that, as a result, the Company’s reported Citizens Checkup figures were inflated, and that, as a result of the foregoing, Defendants’ statements about Citizens’ business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
Citizens Financial Group, Inc. is a retail bank holding company. Citizens Financial Group Inc reported that its Net Income rose from $840.00 million in 2015 to over $1.045 billion in 2016.
On March 29, 2017, it was reported that Citizens Financial Group Inc’s employees admitted that employees faked “financial checkup” meetings with customers. Reportedly Citizens Financial Group Inc claimed that the “Citizens Checkup” program resulted in 400,000 scheduled appointments in 2016. The article stated, however, that former employees said they falsified information because of pressure to meet expectations related to the program.
Shares of Citizens Financial Group Inc (NYSE:CFG) declined on March 27, 2017 to as low as $32.99 per share.
On May 22, 2017, NYSE:CFG shares closed at $34.57 per share.
Those who purchased NYSE:CFG shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Leave Your Comments