A lawsuit was filed on behalf of investors in U.S. Bancorp (NYSE:USB) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 11/09/2022 -- An investor, who purchased shares of U.S. Bancorp (NYSE: USB), filed a against U.S. Bancorp over alleged violations of Federal Securities Laws
Investors who purchased shares of U.S. Bancorp (NYSE: USB) have certain options and for certain investors are short and strict deadlines running. Deadline: December 27, 2022. NYSE: USB investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
Minneapolis, MN based U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities and other financial institutions in the United States. On July 28, 2022, the Consumer Financial Protection Bureau issued a Consent Order and fined U.S. Bancorp $37.5 million for illegally exploiting consumers' personal data to open sham accounts for unsuspecting customers.
Shares of U.S. Bancorp (NYSE: USB) declined from over $63 per share in January 2022, to as low as $38.39 per share on October 13, 2022.
The plaintiff claims that between August 1, 2019 and July 28, 2022, the defendants made false and/or misleading statements and/or failed to disclose that U.S. Bank created sales pressure on its employees that led them to open credit cards, lines of credit, and deposit accounts without consumers' knowledge and consent, that since at least 2015, U.S. Bank and by extension, U.S. Bancorp, was aware of such unauthorized conduct and that it was violating relevant regulations and laws aimed at protecting its consumers, that U.S. Bancorp failed to properly monitor its employees from engaging in such unlawful conduct, detect and stop the misconduct, and identify and remediate harmed consumers, that all the foregoing subjected U.S. Bancorp to a foreseeable risk of heightened regulatory scrutiny or investigation, and that U.S. Bancorp's revenues were in part the product of unlawful conduct and thus unsustainable.
Those who purchased shares of U.S. Bancorp (NYSE: USB) have certain options and should contact the Shareholders Foundation.
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About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and 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. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.