Kaplan Fox & Kilsheimer LLP is Investigating Possible Securities Law Violations Against Franklin Resources, Inc. (BEN)

NEW YORK, NY - (NewMediaWire) - August 22, 2024 -  Kaplan Fox & Kilsheimer LLP is investigating potential securities violations against Franklin Resources, Inc. (BEN) (“Franklin” or the “Company”) (NYSE: BEN), also known as Franklin Templeton.

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If you are a Franklin investor and have suffered losses, you may click here to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.

On July 26, 2024, in Franklin’s quarterly filing on Form 10-Q, Franklin disclosed that it had launched an internal investigation “focusing on certain past trade allocations of treasury derivatives” in select managed accounts of Western Asset Management Company (“Western Asset”), a subsidiary of Franklin.

On August 21, 2024, Franklin disclosed in a filing with the U.S. Securities and Exchange Commission (“SEC”) attaching a press release issued by Western Asset that the co-Chief Investment Officer of Western Asset, Ken Leech, “recently received a Wells Notice from the Staff of the U.S. Securities and Exchange Commission, and is on a leave of absence to focus on this matter.”  Western Asset “is also cooperating with parallel government investigations.”  According to an August 21, 2024 Bloomberg article both the SEC and Department of Justice are investigating.

Following this news, the price of Franklin stock price fell $2.84 per share, over 12%, to close at $19.78 per share on August 21, 2024, the largest single day drop since October 2020.

WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey.  With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand.  Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients.  For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.

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If you have any questions about this investigation, please contact:

Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
E-mail: pmayer@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax:  (415) 772-4707
E-mail: lking@kaplanfox.com