NEW YORK CITY, NY / ACCESSWIRE / September 6, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Franklin Resources, Inc. ("Franklin" or "the Company") (NYSE:BEN). Investors who purchased Franklin securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/BEN.
Investigation Details
On August 21, 2024, Franklin subsidiary Western Asset Management Company issued a press release announcing that co-Chief Investment Officer Ken Leech "is on a leave of absence, effective immediately" after "receiv[ing] a Wells Notice from the Staff of the U.S. Securities and Exchange Commission". That same day, Bloomberg reported that "[f]ederal prosecutors in New York are investigating whether a Western Asset Management executive allocated winning trades to favored accounts, as part of a criminal probe into a practice known as ‘cherry-picking.'"
On this news, Franklin's stock price fell $2.84 per share, or 12.56%, to close at $19.78 per share on August 21, 2024.
What's Next?
If you are aware of any facts relating to this investigation or purchased Franklin securities, you can assist this investigation by visiting the firm's site: bgandg.com/BEN . You can also contact Peretz Bronstein or his client relations manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
There is No Cost to You
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
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Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
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CONTACT:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller,
332-239-2660 | [email protected]
SOURCE: Bronstein, Gewirtz and Grossman, LLC