Long-Term Investors in Comerica Incorporated (NYSE: CMA) Shares Should Contact the Shareholders Foundation in Connection with a Lawsuit

Rhea-AI Summary

Comerica Incorporated (NYSE:CMA) faces a lawsuit over alleged securities laws violations related to its Direct Express program. Investors who purchased shares prior to February 2021 and still hold them have options to consider.

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• None.

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• The lawsuit and allegations against Comerica Incorporated may negatively impact investor confidence and the company's reputation.

SAN DIEGO, CA / ACCESSWIRE / November 30, 2023 / The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in shares of Comerica Incorporated (NYSE:CMA).

Investors, who purchased Comerica Incorporated (NYSE:CMA) shares prior to February 2021 and continue to hold any of those NYSE:CMA shares, have also options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On August 21, 2023, a NYSE: CMA investor filed a lawsuit against Comerica Incorporated over alleged securities laws violations. The plaintiff alleged that the defendants made false and/or misleading statements and/or failed to disclose, among other things, that Comerica failed to provide meaningful oversight over the vendors to whom it contracted out day-to-day operations of the Direct Express program, a system through which it is contracted to provide federal benefits to millions of Americans without bank accounts, that as a result of violations in the day-to-day operations of Direct Express, including handling fraud disputes and allowing sensitive data to be handled out of a vendor's office in Pakistan, Comerica was not in compliance with the Federal Contract, and knew it was not in compliance, that Comerica knew and failed to disclose that it was in potential violation of Regulation E due to inadequate fraud prevention in the Direct Express program and responses to instanced of fraud, and that as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased Comerica Incorporated (NYSE:CMA) shares should contact the Shareholders Foundation, Inc.

CONTACT:

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

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, 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. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.

SOURCE: Shareholders Foundation, Inc.

View source version on accesswire.com:
https://www.accesswire.com/811697/long-term-investors-in-comerica-incorporated-nyse-cma-shares-should-contact-the-shareholders-foundation-in-connection-with-a-lawsuit

FAQ

What is the lawsuit about regarding Comerica Incorporated (NYSE:CMA)?

The lawsuit alleges that Comerica failed to provide meaningful oversight over vendors in its Direct Express program, leading to violations and potential non-compliance with federal contracts and regulations.

What should investors who purchased Comerica Incorporated (NYSE:CMA) shares prior to February 2021 do?

Investors who purchased shares before February 2021 and still hold them should consider their options and may contact the Shareholders Foundation for assistance.

What are the potential consequences for Comerica Incorporated (NYSE:CMA) due to the lawsuit?

The lawsuit may impact investor confidence and the company's reputation, potentially leading to financial repercussions.

How can investors get more information about the lawsuit against Comerica Incorporated (NYSE:CMA)?

Investors can contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554 for further assistance and information regarding the lawsuit.