Paul Tassin  |  April 8, 2015

Category: Legal News

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stock fraud, securities class action lawsuitClass action lawyers are investigating Ally Financial for possible violations of securities law, and are seeking purchasers of that company’s stock.

Ally Financial securities have drawn much negative attention from federal enforcement agencies in recent years. In 2013, Ally agreed to pay hundreds of millions of dollars in securities lawsuits brought by the Federal Deposit Insurance Corp. and by the Federal Housing Finance Agency. It’s possible more recent actions by Ally may have violated federal securities law and could form the basis for a new securities class action lawsuit against the company.

 

Ally Securities Investigation FAQ

How is a class action lawsuit good for the Class Members?

Ally Financial’s actions may have caused financial losses distributed among a very large number of stock purchasers. The loss for any one purchaser might not be large enough to make it worthwhile for that purchaser to bring an individual securities lawsuit. However, if several such purchasers unite as a Class to challenge Ally, a securities class action lawsuit may be a worthwhile way for them to get compensated.

Who gets to be a Class Member?

Securities attorneys are interested in hearing from people who suffered a financial loss related to Ally Financial stock that they purchased during the Class period, which in this case is between April 2014 and the present. As long as you meet those requirements, it doesn’t matter if you later sold the stock. Class membership may also be based on stock you own through an investment product such as a 401(k) or an IRA account. It also doesn’t matter where you live.

If you made multiple purchases of Ally stock, some during the Class period and some outside the Class period, then you can still be a Class Member. The class action lawsuit would address only the stock you purchased during the Class period.

What would Class Members have to do to participate in a class action lawsuit?

Most Class Members need only respond to certain notices they receive. If the securities class action results in a settlement, the court will issue a notice of settlement that requires each Class Member to submit a claim form.

One Class Member, the lead plaintiff, needs to be actively involved throughout the litigation. The lead plaintiff would work with the class’s securities attorneys as a representative for all other Class Members. The lead plaintiff would be appointed by the court and is usually the Class Member with the biggest financial interest at stake.

Does it cost anything to be a Class Member?

Securities lawyers representing a plaintiff Class usually work on a contingency basis. That means they front the costs of litigation and do not get paid unless and until they achieve a settlement or win at trial. If that were to happen in this case, Ally Financial would likely have to pay the plaintiffs’ attorney fees and costs of litigation.

How much money can a Class Member expect to receive?

In securities lawsuits, the amount to be paid depends on the interests of each shareholder and the terms of the settlement or judgment. Any settlement must be approved by the court.

How long can I expect a class action lawsuit to take?

The amount of time varies, but most class action lawsuits take about two to three years.

Join a Free Ally Class Action Lawsuit Investigation Into Securities Fraud

Securities fraud lawyers are actively looking for investors who purchased Ally stock between April 2014 and the present and suffered financial losses. See if you qualify to join this FREE class action lawsuit investigation by clicking “Join Now” below.

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