LOS ANGELES, Nov. 22, 2024 /PRNewswire/ — The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Franklin Resources, Inc. (“Franklin” or “the Company”) (NYSE: BEN) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Franklin 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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We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at [email protected].
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
[email protected]
www.schallfirm.com
SOURCE The Schall Law Firm
