NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against US Bancorp (NYSE: USB) on behalf of long-term stockholders following a class action complaint that was filed against US Bancorp on October 25, 2022 with a Class Period from August 1, 2019 to July 28, 2022. Our investigation concerns whether the board of directors of US Bancorp have breached their fiduciary duties to the company.
Throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (a) US Bank created sales pressure on its employees that led them to open credit cards, lines of credit, and deposit accounts without consumers’ knowledge and consent; (b) since at least 2015, US Bank and, by extension, US Bancorp, was aware of such unauthorized conduct and that it was violating relevant regulations and laws aimed at protected its customers; (c) US Bancorp failed to properly monitor its employees from engaging in such unlawful conduct, detect and stop the misconduct, and identify and remediate harmed customers; (d) all the foregoing subjected the Company to a foreseeable risk of heightened regulatory scrutiny or investigation; (e) US Bancorp’s revenues were in part the product of unlawful conduct and thus unsustainable; and (f) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you are a long-term stockholder of US Bancorp, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at email@example.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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