NEW
YORK, Nov. 11, 2022 /PRNewswire/
-- Jakubowitz Law announces that a securities fraud class
action lawsuit has commenced on behalf of shareholders of U.S.
Bancorp (NYSE: USB).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/u-s-bancorp-loss-submission-form/?id=33549&from=4
The lawsuit seeks to recover losses for shareholders who
purchased U.S. Bancorp between August 1,
2019 and July 28, 2022.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
December 27, 2022 to petition
the court. Your ability to share in any recovery doesn't require
that you serve as a lead plaintiff.
According to a filed complaint, U.S. Bancorp issued materially
false and/or misleading statements and/or failed to disclose that:
(a) 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; (b) 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; (c) 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; (d) all the foregoing subjected the Company to a
foreseeable risk of heightened regulatory scrutiny or
investigation; (e) U.S. Bancorp's revenues were in part the product
of unlawful conduct and thus unsustainable; and (f) as a result,
the Company's public statements were materially false and
misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities fraud. Attorney
advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
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SOURCE Jakubowitz Law