An investigation for investors in NYSE:BLK shares over potential securities laws violations by BlackRock was announced and NYSE:BLK stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/07/2016 -- An investigation on behalf of investors of BlackRock, Inc. (NYSE:BLK) shares over potential securities laws violations by BlackRock and certain of its directors and officers in connection certain financial statements was announced.
Investors who purchased shares of BlackRock, Inc. (NYSE:BLK) between June 16, 2013 and August 24, 2015, have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The investigation by a law firm concerns whether New York based BlackRock, Inc. failed to warn investors in the Company's BlackRock iShares Exchange Traded Funds that during this market instability, Exchange Traded Funds are not as liquid as advertised and whether BlackRock, Inc. should have also notified its investors that the use of open market orders and stop loss orders could damage investors.
On August 24, 2015 the U.S. financial markets became unstable on when the S&P 500 index dropped to 5.3% in the opening minutes of trading, and then closed for the day at 3.9%. At this time, hundreds of Exchange Traded Funds ("ETFs") traded at heavily discounted prices of their holdings and tracking index. One example: At on August 24, 2015 at 9:42am, Black Rock's iShares Select Dividend Exchange Traded Funds dropped 35% to $48, its lowest price of the day. By contrast, the collective weighted values of the stocks held by the Exchange Traded Funds at that time was $72.42, only a 2.7% decline.
On july 5, 2016, NYSE:BLK shares closed at $336.08 per share.
Those who purchased shares of BlackRock, Inc. have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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