Massive consequences possible: US Department of Justice opens investigation: Allianz warns of significant impact on future financial results – shares under pressure | news
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As the insurance company announced on Sunday, the US Department of Justice has now also launched an investigation. The alliance is fully cooperating with the SEC and the ministry in their investigations. However, it is currently neither possible to predict the outcome of the investigations and the pending legal proceedings, nor to estimate the corresponding point in time. In particular, it is not possible to reliably estimate the specific financial impact, including possible fines. Therefore, no provision is currently made.
The US Department of Justice intervened in connection with the lawsuits pending in US courts against Allianz Global Investors US LLC and other Allianz Group companies in connection with the Structured Alpha Funds and the investigation initiated by the US securities regulator SEC in 2020. Allianz Global Investors US LLC had received a request to voluntarily provide documents and information.
This is how Allianz shares react
Allianz shares came under significant pressure on Monday due to the threat of special charges.
In XETRA trading, they are currently losing 2.71 percent of their value and now cost EUR 204.30.
According to traders, the investigation that has been initiated is now causing greater uncertainty among investors.
MUNICH (Dow Jones) / FRANKFURT (dpa-AFX)
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