NEW YORK, June 29, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Allianz SE (OTC: ALIZY) resulting from allegations that Allianz may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Allianz securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=2121 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
WHAT IS THIS ABOUT: On August 1, 2021, Allianz disclosed that “[s]subsequent to the litigation pending in US courts in relation to the Structured Alpha Funds against Allianz Global Investors US LLC [AGI U.S.] and other Allianz Group companies and the investigation launched by the US Securities and Exchange Commission (‘SEC’) in 2020, the US Department of Justice (‘DOJ’) has begun an investigation concerning the Structured Alpha Funds, and Allianz Global Investors US LLC has received a voluntary request for documents and information from the DOJ.” Allianz further stated that “[i]n light of the DOJ investigation and based on information available to Allianz as of today, the Board of Management of Allianz SE has reassessed the matter and has come to the conclusion that there is a relevant risk that the matters relating to the Structured Alpha Funds could materially impact the future financial results of the Allianz Group.”
On this news, the Company’s American depositary receipt (“ADR”) price fell $2.00, or 8%, to close at $22.85 per ADR on August 2, 2021, damaging investors.
Then, on May 17, 2022, Allianz’s US investing division pleaded guilty to securities fraud, admitting that it lacked internal controls and oversight for a series of private-investment funds and made false and misleading statements to investors. The Company agreed to pay $6 billion in penalties and restitution.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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Laurence Rosen, Esq.
Philip Kim, Esq.
The Rosen Law Firm, PA
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New York, New York 10016
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