Kirby McInerney LLP Announces Investigation of Shareholder Claims Against Franklin Resources, Inc. (BEN)

NEW YORK--(BUSINESS WIRE)--
The law firm of Kirby McInerney LLP is investigating potential claims against Franklin Resources, Inc. (“Franklin” or the “Company”) (NYSE: BEN). The investigation concerns whether Franklin and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.

[Click here to learn more about the investigation]

On August 21, 2024, Franklin disclosed that the co-Chief Investment Officer of its subsidiary, Western Asset Management Company (“Western Asset”) is on a leave of absence after recently receiving a Wells Notice from the U.S. Securities and Exchange Commission in relation to an investigation into “certain past trade allocations involving treasury derivatives in select Western Asset-managed accounts.” Additionally, the Company stated that it “has determined that closing its Macro Opportunities strategy (approximately $2.0 billion in AUM as of [July 31, 2024]) is in clients’ best interests.” On this news, the price of Franklin shares declined by $2.84, or 12.6%, from $22.62 on August 20, 2024 to close at $19.78 per share on August 21, 2024.

If you purchased or otherwise acquired Franklin securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this CONTACT FORM, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.

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Kirby McInerney LLP
Thomas W. Elrod, Esq.

212-699-1180

https://www.kmllp.com

investigations@kmllp.com

Source: Kirby McInerney LLP