An investigation on behalf of current long term investors in U.S. Bancorp (NYSE: USB) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA — (SBWIRE) — 02/28/2023 — Certain directors of U.S. Bancorp are under investigation over potential breaches of fiduciary duties.
Investors who are current long term investors in U.S. Bancorp (NYSE: USB) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm for investors in NYSE: USB stocks follows a lawsuit filed against U.S. Bancorp over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: USB stocks, concerns whether certain U.S. Bancorp directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Southern District of New Yor the plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that U.S. 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, that since at least 2015, U.S. Bank and by extension, U.S. Bancorp, was aware of such unauthorized conduct and that it was violating relevant regulations and laws aimed at protecting its consumers, that U.S. Bancorp failed to properly monitor its employees from engaging in such unlawful conduct, detect and stop the misconduct, and identify and remediate harmed consumers, that all the foregoing subjected U.S. Bancorp to a foreseeable risk of heightened regulatory scrutiny or investigation, and that U.S. Bancorp’s revenues were in part the product of unlawful conduct and thus unsustainable.
Those who purchased shares of U.S. Bancorp (NYSE: USB) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego
About The Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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