Ally Financial Inc. ("Ally") is an American bank holding company that provides financial services including auto finance and insurance, online banking and financial assets trading, corporate lending, and mortgage loans.

According to the Complaint, on or around April 11, 2014, Ally conducted the Offering, selling 95,000,000 shares of Ally common stock at a price of $25 per share.

The Complaint alleges the Registration Statement was negligently prepared and, as a result, contained untrue statements of material facts, or omitted to state the facts necessary to make the statements not misleading, and was not prepared in accordance with the rules and regulations governing its preparation.

On May 26, 2017, the Court granted a Motion to remand this case to the Wayne County Circuit Court.