LOS ANGELES, Nov. 14, 2022 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP (“GPM”) reminds investors of what’s to come December 27, 2022 Deadline for filing a motion by lead plaintiff in the class action lawsuit filed on behalf of investors who bought or otherwise acquired US Bancorp (“US Bancorp” or the “Company”) (NYSE: USB) securities between August 1, 2019 and July 28, 2022inclusive (the “Class Period”).

If you have suffered a loss on your US Bancorp investments or would like to inquire about the possibility of making claims to recover your loss under federal securities laws, you may submit your contact information at www.glancylaw.com/cases/us-bancorp/. You can also contact GPM’s Charles H. Linehan at 310-201-9150, toll free at 888-773-9224, or email at [email protected] to learn more about your rights.

On July 28, 2022, following an investigation into its sales practices by the Consumer Financial Protection Bureau, the Company’s subsidiary, the US Bank National Association (“US Bank”), was fined $37.5 million for illegally selling accessed their customers’ credit reports and opened credit cards. Credit lines, current and savings accounts without the consent of the customer.

On the news, US Bancorp stock fell $2.09, or 4.3%, to close at $46.12 per share on July 28, 2022, hurting investors.

The Complaint filed in this Class Action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations and prospects. Specifically, the defendants failed to disclose to investors that: (1) the U.S. bank put selling pressure on its employees that caused them to open credit cards, lines of credit, and deposit accounts without consumers’ knowledge and consent; (2) Since at least 2015, US Bank, and by extension US Bancorp, has been aware of such unauthorized conduct and that they are violating relevant…