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Globe Newswire 19-Sep-2023 1:03 PM
NEW YORK, Sept. 19, 2023 (GLOBE NEWSWIRE) -- Attention Comerica Incorporated ("Comerica") (NYSE:CMA) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors who purchased between February 9, 2021 and May 29, 2023.
If you suffered a loss on your investment in Comerica, contact us about potential recovery by using the link below. There is no cost or obligation to you.
ABOUT THE ACTION: The class action against Comerica includes allegations that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) 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 on debit cards to millions of Americans without bank accounts; (2) 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; (3) 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; (4) 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.
DEADLINE: October 20, 2023
Aggrieved Comerica investors only have until October 20, 2023 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
Vincent Wong, Esq.
39 East Broadway
New York, NY 10002