BEN STOCK NEWS: A Securities Fraud Investigation has been Initiated Against Franklin Resources, Inc. -- Contact BFA Law if You Suffered Losses (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, Inc., also known as Franklin Templeton, is a major asset management company with $1.7 trillion in assets under management (AUM) [2]. - The company’s division, Western Asset Management (WAM), focuses on fixed income management [2]. Group 2: Investigation Details - An internal investigation was launched on July 26, 2024, regarding past trade allocations of treasury derivatives in WAM accounts, coinciding with notifications of parallel investigations by the SEC and 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 closure of the 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, Franklin Resources' stock dropped 2.4% on July 26, 2024, 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].