NEW
YORK, Oct. 10, 2023 /PRNewswire/ -- The Gross
Law Firm issues the following notice to shareholders of Comerica
Incorporated.
Shareholders who purchased shares of CMA during the class period
listed are encouraged to contact the firm regarding possible lead
plaintiff appointment. Appointment as lead plaintiff is not
required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/comerica-loss-submission-form/?id=50945&from=4
CLASS PERIOD: February 9,
2021 to May 29, 2023
ALLEGATIONS: The complaint alleges that
during the class period, Defendants issued 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
Shareholders should not delay in registering for this class action.
Register your information here:
https://securitiesclasslaw.com/securities/comerica-loss-submission-form/?id=50945&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a
shareholder who purchased shares of CMA during the timeframe listed
above, you will be enrolled in a portfolio monitoring software to
provide you with status updates throughout the lifecycle of the
case. The deadline to seek to be a lead plaintiff is October 20, 2023. There is no cost or obligation
to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally
recognized class action law firm, and our mission is to protect the
rights of all investors who have suffered as a result of deceit,
fraud, and illegal business practices. The Gross Law
Firm is committed to ensuring that companies adhere to responsible
business practices and engage in good corporate citizenship. The
firm seeks recovery on behalf of investors who incurred losses when
false and/or misleading statements or the omission of material
information by a company lead to artificial inflation of the
company's stock. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm