The Law Offices of Frank R. Cruz Announces Investigation on Behalf of Fifth Third Bancorp Investors (FITB)
March 26 2020 - 4:30PM
Business Wire
The Law Offices of Frank R. Cruz announces an investigation on
behalf of Fifth Third Bancorp ("Fifth Third" or "the Company")
(NASDAQ: FITB) investors concerning the Company and its officers’
possible violations of federal securities laws.
If you are a shareholder who suffered a loss, click here to
participate.
On March 9, 2020, the Consumer Financial Protection Bureau
("CFPB") announced that it had filed a lawsuit against Fifth Third
Bank, N.A. in federal court, "alleg[ing] that for several years
Fifth Third, without consumers' knowledge or consent: opened
deposit and credit-card accounts in consumers' names; transferred
funds from consumers' existing accounts to new, improperly opened
accounts; enrolled consumers in unauthorized online-banking
services; and activated unauthorized lines of credit on consumers'
accounts. The [CFPB] alleges that Fifth Third violated the Consumer
Financial Protection Act's prohibition against unfair and abusive
acts or practices as well as the Truth in Lending Act and the Truth
in Savings Act and their implementing regulations."
On this news, the Company’s share price fell $3.90, or over 17%,
to close at $18.30 per share on March 9, 2020, thereby injuring
investors.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased Fifth Third securities, have information or
would like to learn more about these claims, or have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Frank R. Cruz, of The Law
Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los
Angeles, California 90067 at 310-914-5007, by email to
info@frankcruzlaw.com, or visit our website at
www.frankcruzlaw.com. If you inquire by email please include your
mailing address, telephone number, and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: https://www.businesswire.com/news/home/20200326005213/en/
The Law Offices of Frank R. Cruz, Los Angeles Frank R. Cruz,
310-914-5007 fcruz@frankcruzlaw.com www.frankcruzlaw.com
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