#United States #New York #Securities Fraud #Franklin Resources #Pomerantz Law Firm

Pomerantz Law Firm Investigates Claims on Behalf of Franklin Resources, Inc. Investors

Pomerantz LLP, a leading law firm in securities class action litigation, has announced it is looking into claims made by shareholders of Franklin Resources, Inc. (NYSE: BEN). This investigation aims to uncover whether Franklin and its executive team were involved in potential securities fraud or other illegal business conduct that could have harmed investors.

Background of the Investigation

The investigation was prompted after significant developments in 2024. On August 21, 2024, Franklin's subsidiary, Western Asset Management Company, issued a statement indicating that co-Chief Investment Officer, Ken Leech, was on a leave of absence due to receiving a Wells Notice from the U.S. Securities and Exchange Commission (SEC). Shortly after, reports suggested that federal prosecutors were conducting inquiries into possible misconduct related to cherry-picking trades, a practice that involves allocating profitable trades to select accounts while leaving less favorable trades for others. Following this revelation, Franklin’s stock price saw a considerable drop of $2.84 per share, representing a decline of 12.56%, closing at $19.78.

In a subsequent turn, on November 25, 2024, the SEC formalized its actions by charging Ken Leech with fraud, accusing him of executing a multi-year scheme where he favored certain accounts over others through cherry-picking methods. This news led to an additional decrease in Franklin's stock, which fell by $0.51 per share, or 2.24%, closing at $22.21 the following day.

What This Means for Investors

The Pomerantz Law Firm advises all shareholders of Franklin Resources who might have suffered losses to reach out for potential participation in a class-action lawsuit. This could provide a route for affected investors to seek justice and compensation for their losses attributed to the company's alleged fraudulent activities.

About Pomerantz LLP

With a legacy spanning over 85 years, Pomerantz LLP is known for its tenacity and effectiveness in the realm of corporate law, particularly concerning securities fraud and stakeholder misconduct. Founded by the late Abraham L. Pomerantz, this firm has established itself as a formidable advocate for investors, having recovered billions of dollars in damages awards through various class actions. The firm's extensive experience and reputation make it a trusted choice for investors seeking redress.

For more information or to join the ongoing investigation, contact Danielle Peyton at Pomerantz LLP via email or phone (646-581-9980, ext. 7980). Investors concerned about their rights regarding Franklin Resources, Inc. may find this opportunity highly critical as the investigation progresses.

Conclusion

As legal scrutiny arises around Franklin Resources and its management practices, investors must remain informed about their rights and options. The Pomerantz Law Firm stands ready to assist those who are seeking to hold the company accountable for its potential misdeeds, ensuring that the interests of shareholders are not overlooked. This investigation serves as a reminder of the importance of transparency and integrity within the financial services sector.