Franklin Resources, Inc. (BEN) Investigation: Bronstein, Gewirtz and Grossman, LLC Encourages Investors to Seek Compensation for Alleged Wrongdoings
Bronstein, Gewirtz & Grossman, is investigating potential claims against Franklin Resources, Inc. (NYSE: BEN) on behalf of investors. The investigation follows news that Franklin subsidiary Western Asset Management Company's co-Chief Investment Officer Ken Leech received a Wells Notice from the SEC and is on immediate leave of absence. Additionally, federal prosecutors are reportedly investigating possible 'cherry-picking' practices at Western Asset Management.
Following this news, Franklin's stock price fell $2.84 per share (12.56%) on August 21, 2024. Investors who purchased Franklin securities are encouraged to participate in the investigation. The law firm is offering its services on a contingency fee basis, seeking reimbursement for expenses and fees only if successful in recovering damages for investors.
Bronstein, Gewirtz & Grossman sta indagando su potenziali reclami contro Franklin Resources, Inc. (NYSE: BEN) per conto degli investitori. L'indagine segue la notizia che Ken Leech, co-Chief Investment Officer della controllata Franklin, Western Asset Management Company, ha ricevuto un Wells Notice dalla SEC ed è in immediato congedo. Inoltre, i pubblici ministeri federali stanno presumibilmente indagando su possibili pratiche di 'cherry-picking' presso Western Asset Management.
dopo questa notizia, il prezzo delle azioni di Franklin è sceso di $2.84 per azione (12.56%) il 21 agosto 2024. Gli investitori che hanno acquistato titoli Franklin sono invitati a partecipare all'indagine. Lo studio legale offre i suoi servizi su base di commissione condizionata, cercando il risarcimento delle spese e delle tasse solo se avrà successo nel recuperare i danni per gli investitori.
Bronstein, Gewirtz & Grossman está investigando posibles reclamaciones contra Franklin Resources, Inc. (NYSE: BEN) en nombre de los inversores. La investigación sigue a la noticia de que Ken Leech, co-Chief Investment Officer de la subsidiaria Franklin, Western Asset Management Company, recibió un Wells Notice de la SEC y se encuentra en licencia inmediata. Además, se informa que los fiscales federales están investigando posibles prácticas de 'cherry-picking' en Western Asset Management.
A raíz de esta noticia, el precio de las acciones de Franklin cayó $2.84 por acción (12.56%) el 21 de agosto de 2024. Se invita a los inversores que compraron valores de Franklin a participar en la investigación. El bufete de abogados ofrece sus servicios con base en honorarios de contingencia, buscando el reembolso de gastos y honorarios solo si tiene éxito en la recuperación de daños para los inversores.
Bronstein, Gewirtz & Grossman은 잠재적인 청구를 조사하고 있습니다 Franklin Resources, Inc. (NYSE: BEN) 를 대신하여 투자자를 위해. 이 조사는 Franklin의 자회사 Western Asset Management Company의 공동 최고 투자 책임자인 Ken Leech가 SEC로부터 웰스 통지를 받았고 즉시 휴가를 받고 있다는 소식에 따라 진행되었습니다. 또한, 연방 검찰이 Western Asset Management에서 이루어진 가능성 있는 '체리 피킹' 행위를 조사하고 있는 것으로 보도되었습니다.
이러한 소식 이후, Franklin의 주가는 2024년 8월 21일에 주당 $2.84 (12.56%) 하락했습니다. Franklin 증권을 구매한 투자자는 조사에 참여할 것을 권장합니다. 이 법무법인은 성공적으로 투자자에게 손해를 배상하는 경우에만 비용과 수수료를 청구하는 조건부 수수료 기준으로 서비스를 제공하고 있습니다.
Bronstein, Gewirtz & Grossman enquête sur des réclamations potentielles contre Franklin Resources, Inc. (NYSE: BEN) au nom des investisseurs. L'enquête fait suite à l'annonce selon laquelle Ken Leech, co-directeur des investissements de la filiale de Franklin, Western Asset Management Company, a reçu un Wells Notice de la SEC et est en congé immédiat. De plus, des procureurs fédéraux enquêteraient sur d'éventuelles pratiques de 'cherry-picking' chez Western Asset Management.
Suite à cette annonce, le prix de l'action de Franklin a chuté de 2,84 $ par action (12,56%) le 21 août 2024. Les investisseurs ayant acquis des valeurs mobilières de Franklin sont encouragés à participer à l'enquête. Le cabinet d'avocats offre ses services sur une base de rémunération conditionnelle, cherchant le remboursement des frais et honoraires uniquement en cas de succès dans le recouvrement des dommages pour les investisseurs.
Bronstein, Gewirtz & Grossman untersucht mögliche Ansprüche gegen Franklin Resources, Inc. (NYSE: BEN) im Namen von Investoren. Die Untersuchung folgt auf die Nachricht, dass Ken Leech, Co-CIO der Tochtergesellschaft Franklin, Western Asset Management Company, eine Wells Notice von der SEC erhalten hat und sich sofort in einer Beurlaubung befindet. Darüber hinaus berichten Bundesanwälte, dass sie mögliche 'Cherry-Picking' Praktiken bei Western Asset Management untersuchen.
Nach dieser Nachricht fiel der Aktienkurs von Franklin um $2.84 pro Aktie (12.56%) am 21. August 2024. Investoren, die Wertpapiere von Franklin gekauft haben, werden ermutigt, an der Untersuchung teilzunehmen. Die Anwaltskanzlei bietet ihre Dienste auf Honorarbasis an, um Rückerstattungen für Ausgaben und Gebühren nur bei erfolgreicher Wiedergewinnung von Schadensersatz für die Investoren zu suchen.
- None.
- Co-Chief Investment Officer of subsidiary received Wells Notice from SEC
- Federal criminal probe into possible 'cherry-picking' practices
- Stock price fell 12.56% following the news
- Potential legal liabilities and reputational damage
Insights
The investigation into Franklin Resources and its subsidiary Western Asset Management is a significant development with potential legal and financial implications. The Wells Notice received by co-CIO Ken Leech indicates that the SEC is considering enforcement action, which could lead to fines, penalties, or other regulatory measures. The reported criminal probe into "cherry-picking" trades is particularly concerning, as it suggests potential breach of fiduciary duty and violation of securities laws.
The immediate
The investigation into Franklin Resources raises serious governance concerns that could have lasting impacts on the company's financial health. With assets under management of over
If the allegations are proven, Franklin may face not only regulatory fines but also potential class action lawsuits from affected investors. This could result in substantial legal costs and settlements, impacting the company's profitability and dividend-paying capacity. Moreover, the reputational damage could hinder Franklin's ability to attract new clients and retain existing ones, potentially leading to a long-term erosion of its market share in the competitive asset management industry.
NEW YORK CITY, NY / ACCESSWIRE / August 22, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Franklin Resources, Inc. ("Franklin" or "the Company") (NYSE:BEN). Investors who purchased Franklin securities are encouraged to obtain additional information and assist the investigation by visiting the firm's 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 "is on a leave of absence, effective immediately" after "receiv[ing] a Wells Notice from the Staff of the U.S. Securities and Exchange Commission". That same day, Bloomberg reported that "[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 ‘cherry-picking.'"
On this news, Franklin's stock price fell
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 firm's 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 attorneys' 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 | info@bgandg.com
SOURCE: Bronstein, Gewirtz and Grossman, LLC
View the original press release on accesswire.com
FAQ
What triggered the investigation into Franklin Resources, Inc. (BEN)?
How did Franklin Resources' (BEN) stock price react to the news on August 21, 2024?
What is the 'cherry-picking' practice being investigated at Franklin Resources (BEN) subsidiary?
How can investors participate in the investigation of Franklin Resources, Inc. (BEN)?
