An investigation on behalf of investors in Fifth Third Bancorp (NASDAQ:FITB) shares over potential wrongdoing at Fifth Third Bancorp was announced.
San Diego, CA -- (SBWIRE) -- 08/06/2020 -- Certain directors of Fifth Third Bancorp are under investigation concerning potential breaches of fiduciary duties.
Investors who purchased shares of Fifth Third Bancorp (NASDAQ: FITB) and currently hold any of those Fifth Third Bancorp (NASDAQ: FITB shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Fifth Third Bancorp directors breached their fiduciary duties and caused damage to the company and its shareholders.
On April 7, 2020 a lawsuit was filed against Fifth Third Bancorp (NASDAQ: FITB) over alleged securities laws violations. According to that complaint filed in the U.S. District Court for the Northern District of Illinois the plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that as a result of Fifth Third Bank's aggressive incentive policies to promote its cross-sell strategy, Fifth Third Bank employees engaged in unauthorized conduct with customer accounts, that since at least 2008, Fifth Third Bank, and by extension, Fifth Third, was aware of such unauthorized conduct and, thus, that it was violating relevant regulations and laws aimed at protecting its consumers, that Fifth Third failed to properly implement and monitor its cross-sell program, detect and stop misconduct, and identify and remediate harmed consumers, that all the foregoing subjected the Company to a foreseeable risk of heightened regulatory scrutiny or investigation, that Fifth Third's revenues were in part the product of unlawful conduct and thus unsustainable, and that as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased shares of Fifth Third Bancorp (NASDAQ: FITB) have certain options and should contact the Shareholders Foundation.
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