The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of Illinois on behalf of investors who purchased Fifth Third Bancorp (NASDAQ: FITB) securities between February 26, 2016 and March 6, 2020.
According to the Fifth Third lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) as a result of Fifth Third Bank’s aggressive incentive policies to promote its cross-sell strategy, Fifth Third Bank employees engaged in unauthorized conduct with customer accounts; (ii) since at least 2008, Fifth Third Bank, and by extension, Fifth Third, was aware of such unauthorized conduct and, thus, that it was violating relevant regulations and laws aimed at protecting its consumers; (iii) Fifth Third failed to properly implement and monitor its cross-sell program, detect and stop misconduct, and identify and remediate harmed consumers; (iv) all the foregoing subjected the Company to a foreseeable risk of heightened regulatory scrutiny or investigation; (v) Fifth Third’s revenues were in part the product of unlawful conduct and thus unsustainable; and (vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you suffered a loss in Fifth Third you have until June 8, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn\'t require that you serve as a lead plaintiff.
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