NEW YORK, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Franklin Resources, Inc. (“Franklin” or “the Company”) (NYSE: BEN). Investors who purchased Franklin securities are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: bgandg.com/BEN.

Investigation Details

On August 21, 2024, Franklin subsidiary Western Asset Management Company issued a press release announcing that co-Chief Investment Officer Ken Leech “is on a leave of absence, effective immediately” after “receiv[ing] a Wells Notice from the Staff of the U.S. Securities and Exchange Commission”. That same day, Bloomberg reported that “[f]ederal prosecutors in New York are investigating whether a Western Asset Management executive allocated winning trades to favored accounts, as part of a criminal probe into a practice known as ‘cherry-picking.’”

On this news, Franklin’s stock price fell $2.84 per share, or 12.56%, to close at $19.78 per share on August 21, 2024.

What's Next?

If you are aware of any facts relating to this investigation or purchased Franklin securities, you can assist this investigation by visiting the firm’s site: bgandg.com/BEN. You can also contact Peretz Bronstein or his client relations manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.

There is No Cost to You

We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.

Attorney advertising. Prior results do not guarantee similar outcomes.

Contact

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | info@bgandg.com

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.