Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Comerica Incorporated (“Comerica” or the “Company”) (NYSE: CMA) on behalf of Comerica stockholders. Our investigation concerns whether Comerica has violated the federal securities laws and/or engaged in other unlawful business practices.
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On May 29, 2023, citing a review of "internal documents," American Banker reported that "Comerica Bank officials privately acknowledged significant compliance failures in their operation of a Treasury Department program that provides federal benefits on prepaid cards to millions of unbanked Americans[.]" American Banker stated that "[a] Comerica executive said the Dallas bank faced a 'serious contract violation' for allowing fraud disputes and data on Direct Express and cardholders to be handled out of a vendor's office in Lahore, Pakistan[.]"
On this news, Comerica's stock fell $1.40 per share, or 3.59% to close at $37.59 per share on May 30, 2023.
If you purchased or otherwise acquired Comerica shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at email@example.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.