SAN FRANCISCO, August 4, 2021 (GLOBE NEWSWIRE) – Hagens Berman urges Allianz SE (Other OTC: ALIZY) Investors with significant losses, file your losses now. The firm is investigating possible violations of securities laws and certain investors may have valuable claims.
Contact a lawyer now: ALIZY@hbsslaw.com
Allianz SE (ALIZY) investigation:
The focus of the study is on Allianz’s statements on the risk management of various structured alpha funds.
Allianz had previously assured investors that their risk management is of the highest standards, structured risk hedges are the cornerstone of Structured Alpha funds, and although the funds would generate returns through a derivatives-based strategy, Allianz had put in place adequate hedges to keep the capital in place limit adverse risk.
But on March 27, 2020, after the Structured Alpha Funds recorded significant losses in stock option deals in the wake of the market slump caused by the coronavirus, Allianz announced that it would liquidate the two private strategy funds with the highest alpha.
Then, on August 4, 2020, Allianz announced that the SEC had opened an investigation into the structured alpha funds.
Finally, on August 1, 2021, Allianz announced that the DOJ had opened an investigation into the losses of the Structured Alpha funds and warned that its board of directors has concluded that there is a relevant risk that the matters are related to the structured alpha funds, which could materially affect the future financial results of the Allianz Group. The company also announced that it had initiated its own review and warned that the potential costs associated with the DOJ investigation “could be significant and cause us to reconsider our assessment of earnings or capital.”
This news caused the Allianz share price to drop significantly on August 2, 2021.
“We are concentrating on investor losses and whether Allianz lied about risk management for the structured alpha funds,” said Reed Kathrein, Hagens Berman’s partner in charge of the investigation.
The story goes on
If you have invested in Allianz SE and suffer significant losses or have knowledge that may aid the company’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblower: Persons with non-public information about Allianz SE should consider their options to help with the investigation or to use the SEC whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards totaling up to 30 percent for each successful SEC recovery. Further information is available from Reed Kathrein at 844-916-0895 or send an email to ALIZY@hbsslaw.com.
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Reed Kathrein, 844-916-0895