Bragar Eagel & Squire Investigates Franklin Resources, Inc.

NEW YORK, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a well-known law firm that focuses on stockholder rights, is currently looking into potential claims against Franklin Resources, Inc. ("Franklin" or the "Company") under the ticker symbol BEN. This investigation aims to explore whether Franklin has breached federal securities laws or engaged in any illegal business practices.

On August 21, 2024, a subsidiary of Franklin, Western Asset Management Company, publicly announced that its co-Chief Investment Officer Ken Leech was taking an immediate leave of absence. This announcement came after he received a Wells Notice from the U.S. Securities and Exchange Commission (SEC). Additionally, reports from Bloomberg suggested that federal prosecutors in New York were investigating allegations of a potential criminal practice known as "cherry-picking," which pertains to the allocation of winning trades to favored accounts.

The repercussions of this news were immediate, as Franklin's stock price dropped by $2.84 per share, a decline of 12.56%, closing at $19.78 per share on the same day.

Franklin stockholders who purchased shares and experienced a loss, long-term investors, or anyone with relevant information regarding this matter are encouraged to reach out. Those interested in learning more about the claims or any questions related to their rights can contact Brandon Walker or Marion Passmore via email at [email protected], by phone at (212) 355-4648, or through a designated contact form. The firm noted that there is no cost or obligation involved for those who reach out.

About Bragar Eagel & Squire, P.C.

Bragar Eagel & Squire, P.C. is a law firm recognized nationwide, with offices located in New York and California. The firm's mission is to represent both individual and institutional investors across a range of complex litigation matters, including commercial, securities, derivative claims, and more in various courts throughout the country. For more information about the firm, visit www.bespc.com. Please note that this article is classified as attorney advertising, and past results do not guarantee similar outcomes.

Franklin, Investigation, Stockholders