NEW YORK, Dec. 9, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of U.S. Bancorp (NYSE: USB).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/u-s-bancorp-loss-submission-form/?id=34397&from=4
The lawsuit seeks to recover losses for shareholders who purchased U.S. Bancorp between August 1, 2019 and July 28, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until December 27, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, U.S. Bancorp issued materially false and/or misleading statements and/or failed to disclose that: (a) 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; (b) 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; (c) 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; (d) all the foregoing subjected the Company to a foreseeable risk of heightened regulatory scrutiny or investigation; (e) U.S. 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.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:https://www.prnewswire.com/news-releases/usb-shareholder-alert-jakubowitz-law-reminds-us-bancorp-shareholders-of-a-lead-plaintiff-deadline-of-december-27-2022-301698852.html
SOURCE Jakubowitz Law
