Citizens Financial Group, Inc. ("Citizens") is an American bank that offers personal and business banking in a dozen states.

According to the law firm press release, on March 29, 2017, the Wall Street Journal (“WSJ”) reported that certain Citizens employees admitted that Company employees faked “financial checkup” meetings with customers. The Company claimed that the “Citizens Checkup” program resulted in 400,000 scheduled appointments in 2016. However, according to the WSJ, former employees said they falsified information because of pressure to meet expectations related to the program. On this news the Company’s stock price declined, injuring investors.

The Complaint filed in this lawsuit alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that Company employees were falsifying information related to the Citizens Checkup program; (2) that, as a result, the Company’s reported Citizens Checkup figures were inflated; and (3) that, as a result of the foregoing, Defendants’ statements about Citizens’ business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

On July 13, 2017, the Court issued an Order consolidating cases. In the same Order, the Court also appointed Lead Plaintiff and Counsel.

This case was voluntarily dismissed on November 16, 2017.