Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, May 24, 2022 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises Allianz SE (“Allianz” or the “Company”) ALIZF investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Allianz investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: email@example.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On August 1, 2021, Allianz disclosed that “the U.S. Department of Justice (‘DOJ’) has begun an investigation concerning the Structured Alpha Funds,” and that “there is a relevant risk that the matters relating to the Structured Alpha Funds could materially impact future financial results of Allianz Group.”
On this news, Allianz’s stock price fell $2.00 per share, or 8%, to close at $22.85 per share on August 2, 2021.
Then, on May 17, 2022, Allianz pleaded guilty to securities fraud, admitting that it lacked internal controls and oversight for a series of private-investment funds and made false and misleading statements to investors. The Company agreed to pay $6 billion in penalties and restitution.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar