1. Pomerantz LLP is investigating Synchrony for potential securities fraud. 2. Synchrony's Q4 2024 earnings missed consensus, causing a stock price drop. 3. The company faced higher credit card loss provisions and increased charge-off rates. 4. Investors are encouraged to join the class action for potential recovery of losses.
Earnings miss and fraud investigation can negatively impact investor confidence and stock price.
Legal investigations can lead to financial liabilities, affecting stock valuation significantly.
Market reacts quickly to earnings news and legal investigations in the short term.
Pomerantz LLP is investigating claims on behalf of investors of Synchrony Financial ("Synchrony" or the "Company") (NYSE: SYF). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Synchrony and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
Click here for information about joining the class action
On January 28, 2025, Synchrony issued a press release announcing its financial results for the fourth quarter of 2024. Among other items, Synchrony's earnings for the quarter missed consensus estimates, as the Company's net interest income was weaker than expected, its provision for credit card losses exceeded analyst estimates, and its net charge-off rate rose.
On this news, Synchrony's stock price fell sharply during intraday trading on January 28, 2025.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP