The Western Union Company
Class Period: Feb 24, 2012 to Jan 19, 2017
Lead Plaintiff Deadline: Mar 27, 2017
Summary of Case:
A securities class action has been filed against The Western Union Company (WU) behalf of all persons and entities who purchased or otherwise acquired the publicly traded securities of The Western Union on the New York Stock Exchange between February 24, 2012 through January 19, 2017. This case has been filed in the USDC - California (Central).
Complaint alleges that throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) Western Union's fraud prevention efforts did not comply with applicable laws; (2) the Company willfully failed to maintain an effective anti-money laundering program; (3) Western Union aided and abetted wire fraud; (4) for at least five years, Western Union knew of agents structuring transactions designed to avoid the reporting requirements of the Bank Secrecy Act; (5) the Company was not compliant with its regulatory responsibilities; (6) between 2004 and 2012, Western Union violated U.S. laws - the Bank Secrecy Act and anti-fraud statutes - by processing hundreds of thousands of transactions for Western Union agents and others involved in an international consumer fraud scheme; (7) Western Union knew of but failed to take corrective action against Western Union agents involved in or facilitating fraud-related transactions; (8) between January 1, 2004 and August 29, 2015, Western Union received at least 550,928 complaints about fraud-induced money transfers, totaling at least $632,721,044; and (9) as a result, Defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.