SAN DIEGO, Feb. 06, 2024 (GLOBE NEWSWIRE) — The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in shares of Comerica Incorporated (NYSE: CMA).
Investors, who purchased Comerica Incorporated shares prior to February 2021 and continue to hold any of those NYSE: CMA shares, also have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
On August 21, 2023, a lawsuit was filed by a NYSE: CMA investor against Comerica Incorporated. The lawsuit seeks to recover losses on behalf of certain investors in NYSE: CMA shares. The plaintiff alleged that the defendants made false and/or misleading statements and/or failed to disclose, among other things, that Comerica failed to provide meaningful oversight over the vendors to whom it contracted out day-to-day operations of the Direct Express program, a system through which it is contracted to provide federal benefits to millions of Americans without bank accounts, that as a result of violations in the day-to-day operations of Direct Express, including handling fraud disputes and allowing sensitive data to be handled out of a vendor’s office in Pakistan, Comerica was not in compliance with the Federal Contract, and knew it was not in compliance, that Comerica knew and failed to disclose that it was in potential violation of Regulation E due to inadequate fraud prevention in the Direct Express program and responses to instances of fraud, and that as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Those who purchased NYSE: CMA shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
