NEW YORK, December 27, 2024 — Pomerantz LLP is investigating potential claims on behalf of investors in Franklin Resources, Inc. (“Franklin” or the “Company”) (NYSE: BEN). Investors are encouraged to contact Danielle Peyton at or 646-581-9980, ext. 7980.

This investigation explores whether Franklin and certain executives or directors engaged in securities fraud or other illegal activities.

 

On August 21, 2024, Franklin’s subsidiary, Western Asset Management Company, announced that co-Chief Investment Officer Ken Leech was taking a leave of absence following receipt of a Wells Notice from the U.S. Securities and Exchange Commission. Simultaneously, Bloomberg reported a federal investigation in New York into potential “cherry-picking” by a Western Asset Management executive.

Following this news, Franklin’s stock price decreased by $2.84 per share (12.56%), closing at $19.78 on August 21, 2024.

Later, on November 25, 2024, the SEC charged Ken Leech with fraud for a multi-year scheme involving the allocation of favorable and unfavorable trades, a practice known as cherry-picking.

This announcement caused Franklin’s stock price to decline by $0.51 per share (2.24%), closing at $22.21 on November 26, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is a leading firm specializing in corporate, securities, and antitrust class action litigation. Founded by Abraham L. Pomerantz, the firm has a long history of advocating for victims of securities fraud, breaches of fiduciary duty, and corporate misconduct, recovering billions of dollars in damages. See .

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CONTACT:
Danielle Peyton
Pomerantz LLP

646-581-9980 ext. 7980

SOURCE Pomerantz LLP