The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Southern District of New York on behalf of investors who purchased The Western Union Company (NYSE: WU) securities between February 24, 2012 and January 19, 2017.
According to the complaint, Defendants made materially false and misleading statements and/or failed to disclose that: (1) the Company’s fraud prevention efforts did not comply with applicable laws; (2) Western Union knowingly failed to maintain an effective anti-money laundering program; (3) Western Union aided and abetted wire fraud; (4) for at least five years, Western Union knew of agents structuring transactions designed to avoid the reporting requirements of the Bank Secrecy Act; (5) Western Union was not compliant with its regulatory responsibilities; (6) between 2004 and 2012, Western Union violated U.S. laws by processing transactions for its agents and others involved in an international consumer fraud scheme; and (7) Western Union knew of but failed to take corrective action against its agents involved in or facilitating fraud-related transactions.
If you suffered a loss in Western Union you have until March 27, 2017 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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