Franklin Resources, Inc. Investigated for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights - BEN
LOS ANGELES, Oct. 25, 2024 /PRNewswire/ -- The DJS Law Group alerts investors of an investigation focusing on Franklin Resources, Inc. ("Franklin" or "the Company") (NYSE:BEN) for potential violations of the securities laws.
INVESTIGATION DETAILS: The investigation focuses on whether made false statements when the Company admitted on July 26, 2024, that "following the launch of an internal investigation focusing on certain past trade allocations of treasury derivatives in select Western Asset Management ('WAM') accounts, WAM received notification of parallel investigations by the SEC and U.S. Department of Justice." The Company then disclosed on August 21, 2024, that WAM co-Chief Investment Officer Ken Leech had been played on leave "effective immediately" adding that "in light of Mr. Leech's leave of absence, the Company has determined that closing its Macro Opportunities strategy (approximately $2.0 billion in AUM as of 7/31/2024) is in clients' best interests." Finally, the Company also disclosed that Leech had received a Wells Notice from the SEC. Based on this news, shares of Franklin fell significantly
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WHY DJS LAW GROUP? DJS Law Group's primary focus is to enhance investor return through balanced counseling and aggressive advocacy. We specialize in securities class actions, corporate governance litigation, and domestic/international M&A appraisals. Our clients are some of the largest and most sophisticated hedge funds and alternative asset managers in the world. The litigation claims of our clients are extraordinarily valuable assets that demand respect, focus, and results.
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CONTACT:
David J. Schwartz
DJS Law Group
274 White Plains Road, Suite 1
Eastchester, NY 10709
Phone: 914-206-9742
Email: [email protected]
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SOURCE DJS Law Group LLP