LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the June 26, 2017 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Citizens Financial Group, Inc. (“Citizens” or the “Company”) (NYSE: CFG) securities between March 18, 2016 and March 29, 2017, inclusive (the “Class Period”). Citizens investors have until June 26, 2017 to file a lead plaintiff motion in this class action. To obtain information or participate in the class action, please visit the Citizens page on our website at http://www.glancylaw.com/case/citizens-financial-group-inc.
On March 29, 2017, the Wall Street Journal (“WSJ”) reported that certain Citizens employees admitted that Company employees faked “financial checkup” meetings with customers. The Company claimed that the “Citizens Checkup” program resulted in 400,000 scheduled appointments in 2016. However, according to the WSJ, former employees said they falsified information because of pressure to meet expectations related to the program. On this news the Company’s stock price declined, injuring investors.
The complaint filed in this lawsuit alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that Company employees were falsifying information related to the Citizens Checkup program; (2) that, as a result, the Company’s reported Citizens Checkup figures were inflated; and (3) that, as a result of the foregoing, Defendants’ statements about Citizens’ business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
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If you purchased or otherwise acquired Citizens shares during the Class Period you may move the Court no later than June 26, 2017 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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