Core Insights - Franklin Resources, Inc. is under investigation for potential violations of federal securities laws, which has led to significant stock price declines and substantial net outflows from its assets under management [1][3][5] Company Overview - Franklin Resources, also known as Franklin Templeton, manages approximately $1.7 trillion in assets, with a key division being Western Asset Management (WAM), focused on fixed income [2] Recent Developments - On July 26, 2024, Franklin Resources announced an internal investigation regarding past trade allocations of treasury derivatives, which coincided with notifications of parallel investigations by the SEC and U.S. Department of Justice, resulting in a 2.4% stock price drop [3] - On August 21, 2024, WAM's co-Chief Investment Officer Ken Leech was placed on leave after receiving a Wells Notice from the SEC, leading to a 13% decline in stock price and the closure of the Macro Opportunities strategy, which had approximately $2.0 billion in assets under management [4] - On November 4, 2024, the company reported preliminary fourth quarter results, revealing $31.3 billion in long-term net outflows, a 354% increase year-over-year, and a quarterly net loss of $84.7 million, causing an almost 3% decline in stock price [5]

Core Viewpoint - Franklin Resources, Inc. is under investigation for potential violations of federal securities laws, which has led to significant stock price declines and substantial net outflows from its assets under management [1][3][5]. Company Overview - Franklin Resources, also known as Franklin Templeton, is a major asset management company with $1.7 trillion in assets under management [2]. Investigation and Stock Performance - On July 26, 2024, Franklin Resources announced an internal investigation regarding past trade allocations in its Western Asset Management division, which resulted in a 2.4% drop in stock price from $23.64 to $23.08 [3]. - Following the placement of WAM co-Chief Investment Officer Ken Leech on leave due to a Wells Notice from the SEC, the stock price fell by 13% from $22.62 to $19.78 on August 21, 2024 [4]. - The company reported a staggering $31.3 billion in long-term net outflows for the quarter ended September 30, 2024, a 354% increase from the previous year, alongside a quarterly net loss of $84.7 million, leading to a nearly 3% decline in stock price on November 4, 2024 [5].

Core Insights - Brand Engagement Network Inc. (BEN) has appointed Walid Khiari as Chief Financial Officer (CFO) and Chief Operating Officer (COO), effective November 18, 2024, highlighting the company's commitment to growth and innovation [1][4] - Mr. Khiari brings over 20 years of finance experience, including 15 years as a technology investment banker, which positions him well to lead BEN's global expansion [2][3] - The leadership transition is supported by outgoing CFO Bill Williams, who has been instrumental in BEN's financial strategy, and CEO Paul Chang, who expresses enthusiasm for the new phase of growth [4] Company Overview - BEN is a global leader in providing secure and reliable conversational AI solutions, enhancing customer experiences and delivering business value through AI-powered digital assistants and lifelike avatars [5] - The company operates from offices in Jackson, Wyoming, and Seoul, South Korea, and offers scalable AI solutions through various technologies, ensuring data sovereignty for its clients [5][6] - BEN's mission is to make AI friendly and helpful for all, aiming to broaden the benefits of AI-enhanced technology [6]

NEW YORK, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces an investigation into Franklin Resources, Inc. (NYSE: BEN) for potential violations of the federal securities laws. If you invested in Franklin Resources, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/franklin-resources-inc. Why Did Franklin Resources’s Stock Drop? Franklin Resources is a $1.7 trillion asset management company better know ...

JACKSON, Wyo., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Brand Engagement Network Inc. (“BEN”) (Nasdaq: BNAI), a leading provider of safe, intelligent, and scalable customer engagement AI, announced today that it will release its financial results for the third quarter, which ended on September 30, 2024. The results will be announced on Thursday, November 14, 2024, after the market close. The company will host a conference call to discuss these results at 5:00 p.m. ET on the same day. CEO Paul Chang and CFO Bill Wi ...

NEW YORK, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces an investigation into Franklin Resources, Inc. (NYSE: BEN) for potential violations of the federal securities laws. If you invested in Franklin Resources, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/franklin-resources-inc. Why Did Franklin Resources’s Stock Drop? Franklin Resources is a $1.7 trillion asset management company better know ...

NEW YORK, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces an investigation into Franklin Resources, Inc. (NYSE: BEN) for potential violations of the federal securities laws. If you invested in Franklin Resources, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/franklin-resources-inc. Why Did Franklin Resources’s Stock Drop? Franklin Resources is a $1.7 trillion asset management company better know ...

Franklin Resources Inc. (BEN) reported fourth-quarter fiscal 2024 (ended Sept. 30) adjusted earnings of 59 cents per share, which missed the Zacks Consensus Estimate of 60 cents. Also, the bottom line decreased 29.7% from the prior-year quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.BEN’s results were affected by a rise in its operating expenses. However, an increase in assets under management (AUM) balances, along with rising revenues, offered support. Net loss was $84.7 m ...

Call Start: 11:00 January 1, 0000 12:00 PM ET Franklin Resources, Inc. (NYSE:BEN) Q4 2024 Earnings Conference Call November 04, 2024 11:00 AM ET Company Participants Selene Oh - Chief Communications Officer & Head of Investor Relations Jenny Johnson - President & Chief Executive Officer Matt Nicholls - Chief Financial Officer & Chief Operating Officer Adam Spector - Head, Global Distribution Conference Call Participants Bill Katz - TD Cowen Benjamin Budish - Barclays Dan Fannon - Jefferies Michael Cyprys - ...

AUM and Flows - Ending AUM reached $1.6786 trillion, a 22.2% increase compared to the previous fiscal year[9, 12, 15] - Long-term inflows increased by 25% year-over-year, with growth in all regions[9, 33] - Long-term net outflows were $32.6 billion, including $20.7 billion of reinvested distributions; excluding Western Asset Management, there were long-term net inflows of $16.0 billion[9, 33] - Private markets fundraising totaled $14.8 billion[9, 24] Financial Performance - Adjusted revenues increased by 7.5% for fiscal year 2024, primarily due to the inclusion of Putnam Investments and higher average AUM[14, 15] - Adjusted operating income decreased by 6.1%, mainly due to higher incentive compensation, lower performance fees, and increased operating expenses[14, 15] - Adjusted net income and EPS declined by 4.2% and 8.1%, respectively, due to lower operating income and a higher tax rate[14, 15] - Adjusted performance fees were $293.4 million, down from $382.8 million in the prior year[14] Strategic Initiatives - Specialist investment managers acquired since 2019 represent 64% of AUM and 55% of adjusted operating revenue[16, 17] - The company returned $946 million to shareholders through dividends and share repurchases, with cash and investments at $6.73 billion at year-end[14] - Fiduciary Trust International AUM has more than doubled in the past five years, growing from $16.9 billion to $39.3 billion[28]