NEW YORK, Feb. 11, 2023 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Central District of California behalf of a class consisting of all persons and entities other than Defendants that  purchased or acquired the American Depositary Receipts ("ADR's") of Allianz SE ("Allianz" or the "Company") ALIZY between March 9, 2018 and May 17, 2022, inclusive (the "Class Period").

All investors who purchased shares and incurred losses are  advised  to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.

If you have incurred losses, you may, no later than April 3, 2023, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.

PLEASE CLICK HERE TO SUBMIT YOUR CONTACT AND TRANSACTION INFORMATION

On February 17, 2022, Allianz announced that "in light of current discussions with U.S. governmental authorities, Allianz today decided to book a provision of EUR 3.7 billion in the financial statements 2021." On this news, Allianz's ADR price fell $0.98 per share, or 3.8%, to close at $24.33 per ADR on May 18, 2022.

Then, on March 4, 2022, Allianz filed its annual report for the year 2021, which stated that "[u]pon request from the U.S. Securities and Exchange Commission (SEC), AllianzGI U.S. has provided substantial information to the SEC in connection with an SEC investigation of the Funds, and Allianz is fully cooperating with the SEC's ongoing investigation. In addition, the U.S. Department of Justice (DOJ) is continuing its investigation concerning the Funds, and AllianzGI U.S. is also fully cooperating with the DOJ in the investigation and is continuing its own review of the matter." On this news, Allianz's ADR price fell by more than 4%.

Finally, on May 17, 2022, the SEC issued a press release entitled "SEC Charges Allianz Global Investors and Three Former Senior Portfolio Managers with Multibillion Dollar Securities Fraud." That same day, the Department of Justice issued a press release entitled "Three Portfolio Managers and Allianz Global Investors U.S. Charged in Connection with Multibillion-Dollar Fraud Scheme." On this news, Allianz's ADR price fell 2.6% the next full trading day. 

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at classmember@whafh.com.

Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. 

SOURCE Wolf Haldenstein Adler Freeman & Herz LLP