NEW YORK, Oct. 08, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Fulton Financial Corporation (NASDAQ: FULT) on behalf of Fulton stockholders. Our investigation concerns whether Fulton has violated the federal securities laws and/or engaged in other unlawful business practices.
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On September 28, 2020, the U.S. Securities and Exchange Commission (“SEC”) announced that Fulton had been charged with accounting and disclosure violations. Specifically, the SEC stated that, in two quarters in which Fulton was on track to meet or beat analyst consensus EPS estimates, Fulton included a valuation allowance that “was at odds” with its reported methodology. Then, in mid-2017, “Fulton belatedly reversed the valuation allowance, increasing its EPS by a penny in a quarter when it otherwise would have fallen short of consensus estimates.”
On this news, the Company’s share price fell sharply during intraday trading on September 29, 2020, to close at $9.10 per share.
If you purchased or otherwise acquired Fulton shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.