BOSTON, April 08, 2020 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, announces that a class action lawsuit has been filed against Fifth Third Bancorp (“Fifth Third”) (FITB) and certain of its officers for securities fraud. The lead plaintiff deadline is June 8, 2020. Investors who purchased Fifth Third shares between February 26, 2016 and March 6, 2020 should contact Block & Leviton for a free case evaluation.
Fifth Third is a diversified financial services company, headquartered in Cincinnati, Ohio. It is the indirect holding company of Fifth Third Bank, N.A.
On March 9, 2020, the Consumer Financial Protection Bureau (“CFPB”) announced that it had filed a lawsuit against Fifth 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 over 17%, to close at $18.30 per share.
If you purchased or acquired shares of Fifth Third common stock and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorneys at (617) 398-5600, or via email at firstname.lastname@example.org, or at https://shareholder.law/fifththird. Fifth Third investors who purchased or otherwise acquired shares of Fifth Third common stock during the Class Period may, no later than June 8, 2020, seek to be appointed as a lead plaintiff representative of the Class.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm’s lawyers have recovered billions of dollars for its clients.
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