An investor is suing Citizens Financial Group after allegations surfaced from former employees that in-branch financial “check-up” meetings with customers—which the bank said generated 400,000 meetings in 2016—were falsified.
Los Angeles-based class action specialists Glancy Prongay & Murray filed the suit on Tuesday in the Southern District of New York on behalf of a Texas-based investor. The complaint, which includes Citizens CEO Bruce Van Saun and current and former CFOs as defendants, alleges that the company misled investors about its practices, leading to a “precipitous decline in the market value” of Citizens stock after the news broke.
