NEW YORK, NY / ACCESSWIRE / September 19, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Bank of Montreal ("BoM" or the "Company") (NYSE:BMO). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether BoM and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On August 27, 2024, BoM reported its financial results for the third quarter of 2024. Among other items, BoM reported adjusted earnings per share of C$2.64 (US$1.96), missing consensus estimates for the third consecutive quarter. The Company also increased its provision for credits loses to C$906 million, compared to C$492 million for the same period in the prior year. In response, Jefferies downgraded BoM’s stock to Hold from Buy.
On this news, BoM’s stock price fell $5.47 per share, or 6.16%, to close at $83.30 per share on August 27, 2024.
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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SOURCE: Pomerantz LLP
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