Comerica Incorporated

CMA

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Lead Plaintiff Deadline:
October 20, 2023

Days Left:
-123

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Comerica Incorporated Form












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Allegations

The filed complaint alleges that defendants made false statements and/or concealed that: (1) Comerica failed to provide meaningful oversight over the vendors to whom it contracted out day-to-day operations of the Direct Express program, a system through which it is contracted to provide federal benefits on debit cards to millions of Americans without bank accounts; (2) as a result of violations in the day-to-day operations of Direct Express, including handling fraud disputes and allowing sensitive data to be handled out of a vendor’s office in Pakistan, Comerica was not in compliance with the Federal Contract, and knew it was not in compliance; (3) Comerica knew and failed to disclose that it was in potential violation of Regulation E due to inadequate fraud prevention in the Direct Express program and responses to instances of fraud, and; (4) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Eligibility

In order to be included in the lawsuit, you must have incurred a loss on shares of Comerica purchased or acquired during the class period listed above.

Lead Plaintiff Deadline

If you suffered a loss in Comerica during the relevant time frame, you have until October 20, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

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