An investigation on behalf of current long term investors in Synchrony Financial (NYSE: SYF) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 02/20/2019 -- An investigation was announced for investors in shares of Synchrony Financial (NYSE: SYF) concerning potential breaches of fiduciary duties by certain directors of Synchrony Financial was announced.
Investors who are current long term investors in Synchrony Financial (NYSE: SYF) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NYSE: SYF stocks follows a lawsuit filed against Synchrony Financial over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: SYF stocks, concerns whether certain Synchrony Financial directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that Synchrony Financial falsely represented that its consistent and disciplined underwriting practices had led to a higher quality loan portfolio than those of its competitors. In truth, Synchrony Financial relaxed its underwriting standards and increasingly offered private-label credit cards to riskier borrowers to sustain growth. The truth about Synchrony's credit standards began to be revealed on April 28, 2017, when the Company announced disappointing first quarter 2017 earnings driven by poor loan performance.
The plaintiff alleges that following this disclosure, Synchrony Financial represented that it had tightened credit standards, but falsely characterized those underwriting changes as modest, while in fact, Synchrony Financial had made significant modifications to its underwriting policies, but concealed that these modifications were damaging its relationships with its retail partners, including Walmart.
Those who purchased shares of Synchrony Financial (NYSE: SYF) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and 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. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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