An investigation for investors in Mitsubishi UFJ Financial Group Inc (ADR) (NYSE:MTU) shares over potential securities laws violations by Mitsubishi UFJ Financial Group was announced and NYSE:MTU stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/01/2017 -- Mitsubishi UFJ Financial Group Inc is under investigation over possible securities laws violations in connection with certain financial statements. The investigation was announced for investors in NYSE:MTU shares.
Investors who purchased shares of Mitsubishi UFJ Financial Group Inc (ADR) (NYSE:MTU), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm focuses on whether a series of statements by Mitsubishi UFJ Financial Group Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Japan based Mitsubishi UFJ Financial Group, Inc. (MUFJ) is a bank holding company. On November 7, 2017, Mitsubishi UFJ Financial Group, Inc converted the New York state license of a bank branch in New York to a federal license, with approval from the Office of the Comptroller of the Currency (the "OCC").
On November 15, 2017, citing a letter from the New York Department of Financial Services ("DFS") to the OCC, it was reported that Mitsubishi UFJ Financial Group, Inc's license conversion followed a report by an independent monitor that "the bank was 'taking actions that are inconsistent with complying' with a consent order it had agreed to in 2014 related to hiding illicit transactions involving Iran and other countries, including 'the termination of a competent and cooperative Chief Compliance Officer' in March and a 'lack of transparency' with the monitor about transaction data problems." In its letter to the OCC, the DFS asserted that it "was not given any reasonable opportunity to provide any input whatsoever" into MUFG's application for a federal banking license, and that "[t]he precipitous nature of this approval . . . is without precedent and raises significant questions as to both the process and substance of the OCC's decision."
On November 24, 2017, Mitsubishi UFJ Financial Group Inc (ADR) (NYSE:MTU) shares closed at $6.83 per share.
Those who purchased shares of Mitsubishi UFJ Financial Group Inc (ADR) (NYSE:MTU) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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