NEW YORK, Nov. 15, 2022 (GLOBE NEWSWIRE) — Attorney Advertising — Bronstein, Gewirtz & Grossman, LLC is notifying investors that a class action lawsuit has been filed against US Bancorp (“US Bancorp” or the “Company”) ( NYSE: USB) and certain of its officers on behalf of all persons and entities who purchased or otherwise acquired US Bancorp securities between August 1, 2019 and July 28, 2022, both dates inclusive (the “Collection Period”). Such investors are encouraged to join this case by visiting the company’s website: www.bgandg.com/usb.

This class action seeks damages against the defendants for alleged violations of the Securities Exchange Act of 1934 (the “Exchange Act”).

The lawsuit alleges that the defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies throughout the class period. Specifically, the lawsuit alleges that the defendants provided false and/or misleading information and/or failed to disclose the following: (1) The U.S. bank put selling pressure on its employees that caused them to use credit cards, lines of credit, and deposit accounts without opening 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 it has violated relevant regulations and laws designed to protect its consumers; (3) US Bancorp failed to adequately monitor its employees for engaging in such illegal conduct, to detect and stop the wrongdoing, and to identify and remedy aggrieved consumers; (4) all of which have exposed the Company to a foreseeable risk of increased regulatory scrutiny or investigation; (5) US Bancorp’s earnings were in part the result of illegal conduct and therefore unsustainable; and (6) as a result, the Company’s public statements were, at all relevant times, materially false and misleading.

A class action lawsuit has already been filed. If you wish…