ATLANTA, GA – – (Globe Newswire – August 22, 2023) – – Holzer & Holzer, LLC informs investors that a class action lawsuit has been filed against Comerica Incorporated (“Comerica” or the “Company”) (NYSE: CMA). The lawsuit alleges Comerica made materially false and/or misleading statements and/or failed to disclose material adverse facts about the Company’s business, operations, and prospects, including: (1) Comerica failed to provide meaningful oversight over the vendors to whom it contracted out day-to-day operations of the Direct Express program, a system through which it is contracted to provide federal benefits on debit cards to millions of Americans without bank accounts; (2) as a result of violations in the day-to-day operations of Direct Express, including handling fraud disputes and allowing sensitive data to be handled out of a vendor’s office in Pakistan, Comerica was not in compliance with the Federal contract, and knew it was not in compliance; (3) Comerica knew and failed to disclose that it was in potential violation of Regulation E due to inadequate fraud prevention in the Direct Express program and responses to instances of fraud.
If you bought shares of Comerica between February 9, 2021 and May 29, 2023, and you suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey Holzer, Esq. at email@example.com or Joshua Karr, Esq. at firstname.lastname@example.org, by toll-free telephone at (888) 508-6832 or you may visit the firm’s website at https://holzerlaw.com/case/comerica/ to learn more.
The deadline to ask the court to be appointed lead plaintiff in the case is October 20, 2023.
Lead Plaintiff Deadline Has Passed
October 20, 2023