NEW YORK, June 14, 2022 /PRNewswire/ — WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of Allianz SE (OTC:ALIZY) shareholders arising from allegations that Allianz may have provide misleading business information to the investing public.
SO WHAT: If you have purchased Allianz securities, you may be entitled to compensation without payment of disbursements or fees through a contingency fee arrangement. Rosen Law is preparing a class action lawsuit to recover investors’ losses.
WHAT TO DO NEXT: To join the potential class action, go to https://rosenlegal.com/submit-form/?case_id=2121 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email [email protected] Where [email protected] for more information on the class action.
WHAT DOES IT TALK ABOUT: On August 1, 2021Allianz revealed that “[s]following the ongoing litigation in US courts regarding Structured Alpha Funds against Allianz Global Investors US LLC [AGI U.S.] and other Allianz Group companies and the investigation launched by the United States Securities and Exchange Commission (“SEC”) in 2020, the United States Department of Justice (“DOJ”) initiated an investigation regarding alpha funds Structured Investors and Allianz Global Investors US LLC received a voluntary request for documents and information from the DOJ.” Allianz further stated that “[i]In light of the DOJ investigation and based on the information available to Allianz to date, the Allianz SE Board of Directors has reassessed the matter and concluded that there is a relevant risk that the matters relating to structured Alpha funds could have a significant impact on the future financial results of the Allianz Group.”
On this news, the price of the Company’s American Certificate of Deposit (“ADR”) fell. $2.00i.e. 8%, to close at $22.85 by ADR on August 2, 2021detrimental to investors.
Then, on May 17, 2022, Allianz’s US investment divisions pleaded guilty to securities fraud, admitting they lacked internal controls and oversight for a series of private investment funds and made false and misleading statements to investors. The Company has agreed to pay $6 billion in penalties and restitution.
WHY THE ROSEN LAW: We encourage investors to select qualified lawyers with proven track records in leadership roles. Often, companies issuing reviews do not have comparable experience, resources, or significant peer recognition. Be wise in choosing lawyers. Rosen Law Firm represents investors worldwide, focusing its practice on securities class action and shareholder derivative litigation. Rosen Law Firm has reached the largest securities class action settlement against a Chinese company. Rosen Law Firm was ranked #1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has ranked in the top 4 every year since 2013 and has recovered hundreds of million dollars for investors. In 2019 alone, the company obtained more than $438 million for investors. In 2020, founding partner Laurence Rosen has been named by law360 as a Titan of the Plaintiffs Bar. Many of the firm’s lawyers have been recognized by Lawdragon and Super Lawyers.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, Pennsylvania
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
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