Lawsuit for Investors in Shares of The Western Union Company (NYSE:WU) Announced by Shareholders Foundation

SAN DIEGO, CA / ACCESSWIRE / February 1, 2017 / The Shareholders Foundation, Inc. announces that a lawsuit was filed in New York for certain purchasers of NYSE:WU shares against The Western Union Company over alleged Securities Laws Violations.

Investors who purchased shares of The Western Union Company (NYSE: WU) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

The plaintiff claims that the defendants made false and/or misleading statements and/or failed to disclose that Western Union’s fraud prevention efforts did not comply with applicable laws, that Western Union willfully failed to maintain an effective anti-money laundering program, that Western Union aided and abetted wire fraud, that for at least five years, Western Union knew of agents structuring transactions designed to avoid the reporting requirements of the Bank Secrecy Act, that Western Union was not compliant with its regulatory responsibilities, that between 2004 and 2012, Western Union violated U.S. laws – the Bank Secrecy Act and anti-fraud statutes – by processing hundreds of thousands of transactions for Western Union agents and others involved in an international consumer fraud scheme, that Western Union knew of but failed to take corrective action against Western Union agents involved in or facilitating fraud-related transactions, that between January 1, 2004 and August 29, 2015, Western Union received at least 550,928 complaints about fraud-induced money transfers, totaling at least $632,721,044, and that as a result, Defendants’ public statements were materially false and misleading at all relevant times.

On January 19, 2017, the U.S. Department of Justice and the Federal Trade Commission announced that Western Union agreed to pay $586 million and admitted to “aiding and abetting wire fraud” by allowing scammers to process transactions even when the company realized its agents were disguising transactions to avoid detection.

Those who purchased The Western Union Company (NYSE: WU) shares should contact the Shareholders Foundation, Inc.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

CONTACT:

Shareholders Foundation, Inc.

Michael Daniels

+1 (858) 779-1554

mail@shareholdersfoundation.com

3111 Camino Del Rio North

Suite 423

San Diego, CA 92108

SOURCE: Shareholders Foundation, Inc.

ReleaseID: 454025