The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased U.S. Bancorp (NYSE: USB) securities between August 1, 2019 and July 28, 2022.
According to the U.S. Bancorp lawsuit, throughout the Class Period defendants made 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.
If you suffered a loss in U.S. Bancorp you have until December 27, 2022 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.
To receive more information, please fill out the form.