SAN DIEGO, July 11, 2022 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announced an update in the lawsuit that is pending for certain investors in Synchrony Financial (NYSE: SYF) shares.
Investors, who purchased Synchrony Financial shares prior to October 2016 and continue to hold any of those NYSE: SYF shares, have also certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On November 2, 20218, a lawsuit was filed against Synchrony Financial. The plaintiff alleged 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.
On April 5, 2019, an amended complaint was filed. On June 26, 2019, the defendants filed a Motion to Dismiss the amended complaint.
On March 31, 2020, the Court issued an Order granting the Defendants' Motion to Dismiss.
On April 20, 2020, a notice appealing the Dismissal Order was filed. On February 16, 2021, the Court of Appeals affirmed in part and reversed in part the ruling of the District Court.
On May 17, 2021, the Defendants filed a motion to dismiss the remaining claim.
On February 11, 2022, the Court issued an order denying Defendants' Motion to Dismiss.
Those who purchased Synchrony Financial shares prior to October 2016 should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
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. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
