NEW YORK, Nov. 3, 2023 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of NatWest Group plc (“NatWest” or the “Bank”) (NYSE: NWG). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether NatWest and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On October 27, 2023, NatWest issued a press release admitting “serious failings” in the Bank’s treatment of Nigel Farage, a former politician and TV host whose account was closed this summer at Coutts, one of NatWest’s subsidiaries. Specifically, an independent review commissioned by the NatWest Board of Directors found that the decision to shutter Farage’s account had been lawful and in line with internal policies, but the Bank made mistakes in how it reached the decision, handled related confidential information, and communicated with Farage. Following this announcement, the UK’s Financial Conduct Authority announced that same day that it had opened a probe into NatWest and Coutts after the independent indicated a potential breach of regulations, including those related to the process of closing accounts and the handling of customer complaints.
On this news, NatWest’s stock price fell $0.66 per share, or 13%, to close at $4.42 per share on October 27, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
