NEW YORK, March 07, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Lloyds Banking Group plc (“Lloyds” or the “Company”) (NYSE: LYG). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Lloyds and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On February 4, 2024, the Financial Times published an article reporting that Iran had used Lloyds accounts “to covertly move money around the world as part of a vast sanctions-evasion scheme”. Specifically, the article reported that Lloyds provided accounts to British front companies secretly owned by Iran’s state-controlled Petrochemical Commercial Company.
On this news, Lloyds’ American depositary receipt price fell $0.03 per share, or 1.42%, to close at $2.08 per share on February 5, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
