NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Fifth Third Bancorp (NASDAQ: FITB) resulting from allegations that Fifth Third may have issued materially misleading business information to the investing public.
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, Fifth Third’s stock price fell $3.90, or 13.06%, to close at $18.30 per share on March 9, 2020, damaging investors.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Fifth Third investors. If you purchased shares of Fifth Third please visit the firm’s website at http://www.rosenlegal.com/cases-register-1804.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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