The Law Offices of Frank R. Cruz announces an investigation on behalf of Fifth Third Bancorp ("Fifth Third" or "the Company") (NASDAQ: FITB) investors concerning the Company and its officers’ possible violations of federal securities laws.
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On March 9, 2020, the Consumer Financial Protection Bureau ("CFPB") announced that it had filed a 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, the Company’s share price fell $3.90, or over 17%, to close at $18.30 per share on March 9, 2020, thereby injuring investors.
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If you purchased Fifth Third securities, have information or 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to firstname.lastname@example.org, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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