NEW
YORK, Aug. 11, 2023 /PRNewswire/ -- Jakubowitz
Law announces that a securities fraud class action
lawsuit has commenced on behalf of shareholders of KeyCorp (NYSE:
KEY).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/key-class-action-loss-submission-form/?id=43326&from=4
The lawsuit seeks to recover losses for shareholders who
purchased Key between February 27,
2020 and June 9, 2023.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
October 3, 2023 to petition
the court. Your ability to share in any recovery doesn't require
that you serve as a lead plaintiff.
According to a filed complaint, KeyCorp issued materially false
and/or misleading statements and/or failed to disclose that: (i)
Key downplayed concerns with its liquidity while overstating the
effectiveness of its long-term liquidity strategy; (ii) Key
overstated its projected net interest income ("NII") for the second
quarter and full year of 2023, as well as related positive NII
drivers, while downplaying negative NII drivers; (iii) as a result,
Key was likely to negatively revise its previously issued NII
guidance; (iv) all the foregoing, once revealed, was likely to
negatively impact Key's business, financial results, and
reputation; and (v) as a result, defendants' public statements were
materially false and/or misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities
fraud. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887
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SOURCE Jakubowitz Law
