NEW YORK, Nov. 3, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of UBS Group AG ("UBS" or the "Company") (NYSE: UBS). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether UBS and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On September 27, 2023, Bloomberg published an article reporting that "[t]he US Department of Justice has stepped up its probe into Credit Suisse Group and UBS Group AG over suspected compliance failures that allowed Russian clients to evade sanctions, according to people familiar with the situation." The article described "a full-scale investigation focusing on Credit Suisse" and reported that "[t]he DOJ has briefed US-based lawyers for UBS about Credit Suisse's alleged exposure to sanctions violations since UBS acquired its smaller rival in June" as well as "possible compliance failures at UBS[.]" On this news, UBS's stock price fell sharply during intraday trading on September 27, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP
