Lawsuit for Investors Who Purchased Shares of Ally Financial Inc (NYSE: ALLY) Announced by Shareholders Foundation
SAN DIEGO, CA, January 10, 2017 (Newswire.com) - The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in Ally Financial Inc (NYSE: ALLY) over alleged Securities Laws violations by Ally Financial Inc in connection the company's April 11, 2014 initial public offering.
Investors who purchased shares of Ally Financial Inc (NYSE: ALLY) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff claims that that certain Ally Financial Inc officials failed to disclose the severity of rising subprime auto loan delinquency rates, the deficient underwriting measures employed in the origination of its subprime auto loans, and the aggressive tactics used with low-income borrowers in order to raise approximately $2.375 billion in the company's April 2014 IPO.
In October 2014, Ally Financial Inc disclosed that it received a document request from the U.S. Securities and Exchange Commission ("SEC") in connection with its investigation related to subprime automotive finance and related securitization activities.
In December 2014, Ally Financial Inc revealed that it had received a subpoena from the U.S. Department of Justice as part of an investigation "related to subprime automotive finance and related securitization activities".
Those who purchased Ally Financial Inc (NYSE: ALLY) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
SOURCE: Shareholders Foundation, Inc.
Source: Shareholders Foundation, Inc.
