Fifth Third Bancorp
Bernstein Liebhard, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of Fifth Third Bancorp (“Fifth Third” or the “Company”) (NASDAQ: FITB) resulting from allegations that Fifth Third might have issued misleading information to the investing public.
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New York, New York — Bernstein Liebhard, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of Fifth Third Bancorp (“Fifth Third” or the “Company”) (NASDAQ: FITB) resulting from allegations that Fifth Third might have issued misleading information to the investing public.
On March 9, 2020, the Consumer Financial Protection Bureau informed the market that it filed a lawsuit against Fifth Third Bank, N.A. in federal court, alleging 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 $3.90, or 13.06%, to close at $18.30 per share on March 9, 2020, damaging investors.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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