Kirby McInerney LLP Announces Investigation into Shareholder Claims Against Franklin Resources, Inc. (BEN)

The law firm of Kirby McInerney LLP is investigating potential claims against Franklin Resources, Inc. (“Franklin” or the “Company”) (NYSE: BEN). The investigation focuses on whether Franklin and/or certain of its officers violated the federal securities laws and/or engaged in other unlawful business practices.

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On August 21, 2024, Franklin announced that the co-Chief Investment Officer of its subsidiary, Western Asset Management Company (“Western Asset”), is on leave after recently receiving a Wells Notice from the U.S. Securities and Exchange Commission regarding an investigation into “certain prior trading allocations involving Treasury derivatives in select accounts managed by Western Asset.” Additionally, the company stated that it “has determined that closing its Macro Opportunities strategy (approximately $2.0 billion in AUM as of (July 31, 2024)) is in the best interests of its clients.” On this news, the price of Franklin shares fell $2.84, or 12.6%, from $22.62 on August 20, 2024 to a closing price of $19.78 per share on August 21, 2024.

If you purchased or otherwise acquired Franklin securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at [email protected] or by completing this CONTACT FORM to discuss your rights or interests with respect to these matters at no cost to you.

Kirby McInerney LLP is a New York plaintiffs’ law firm specializing in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities class action lawsuits have resulted in recoveries totaling billions of dollars.

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