LOS ANGELES, Dec. 27, 2022 (GLOBE NEWSWIRE) — The law office of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders in the following public companies. Investors have until the deadlines set out below to file a lead plaintiff filing.

Investors who experience losses on their investments are encouraged to contact The Law Offices of Frank R. Cruz to discuss their legal rights in these class actions at 310-914-5007 or by email at fcruz@frankcruzlaw.com.

U.S. Bancorp USB
Class Period: August 1, 2019 – July 28, 2022
Deadline for lead plaintiff: December 27, 2022

The Complaint filed in this Class Action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations and prospects. Specifically, the defendants failed to disclose to investors that: (1) the U.S. bank put selling pressure on its employees that caused them to open credit cards, lines of credit, and deposit accounts without consumers’ knowledge and consent; (2) since at least 2015, US Bank, and by extension US Bancorp, has been aware of such unauthorized conduct and that it has violated relevant regulations and laws designed to protect its consumers; (3) US Bancorp failed to adequately monitor its employees for engaging in such illegal conduct, to detect and stop the wrongdoing, and to identify and remedy aggrieved consumers; (4) all of which have exposed the Company to a foreseeable risk of increased regulatory scrutiny or investigation; (5) US Bancorp’s revenues were in part the result of illegal conduct and therefore unsustainable; and (6) as a result, the defendants’ positive statements about the Company’s business, operations and prospects were materially misleading and/or lacking a reasonable basis at all relevant times.

If you are a US Bancorp shareholder who has suffered a loss, click here take part.

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