LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Fifth Third Bancorp (“Fifth Third” or “the Company”) (NASDAQ: FITB) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between February 26, 2016 and March 6, 2020, inclusive (the ''Class Period''), are encouraged to contact the firm before June 8, 2020.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, 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 firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Fifth Third employees engaged in unauthorized activity with customer accounts due to the Company’s aggressive cross-sell incentives. The Company had been aware of the behavior since at least 2008, placing it in violation of consumer protection laws and regulations. The Company failed to maintain appropriate controls on its cross-selling investives, including detecting and stopping misconduct. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Fifth Third, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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