BEN FRAUD UPDATE: A Securities Fraud Investigation has been Initiated into Franklin Resources, Inc.; Investors that Lost Money are Encouraged to Contact BFA Law (NYSE:BEN)

Core Viewpoint - Franklin Resources, Inc. is under investigation for potential violations of federal securities laws, leading to significant stock price declines following internal and external investigations into trading practices [1][2]. Group 1: Company Overview - Franklin Resources, also known as Franklin Templeton, is a major asset management firm with approximately $1.7 trillion in assets under management (AUM) [2]. - The company’s division, Western Asset Management (WAM), focuses on fixed income management and is currently facing scrutiny due to allegations of improper trade allocations [2]. Group 2: Investigation Details - An internal investigation was launched on July 26, 2024, regarding past trade allocations of treasury derivatives in select WAM accounts, coinciding with notifications of parallel investigations by the SEC and the U.S. Department of Justice [2]. - On August 21, 2024, WAM co-Chief Investment Officer Ken Leech was placed on leave after receiving a Wells Notice from the SEC, prompting the company to close its Macro Opportunities strategy, which had approximately $2.0 billion in AUM as of July 31, 2024 [2]. Group 3: Stock Performance - Following the announcement of the internal investigation on July 26, 2024, Franklin Resources' stock price dropped by 2.4%, from $23.64 to $23.08 per share [2]. - The stock experienced a further decline of 12.5% on August 21, 2024, falling from $22.62 to $19.78 per share [2].