WHY: New York, NY - (NewMediaWire) - May 14, 2023 - Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of LPL Financial Holdings Inc. (NASDAQ: LPLA) resulting from allegations that LPL Financial may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased LPL Financial securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=14238 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email firstname.lastname@example.org or email@example.com for information on the class action.
WHAT IS THIS ABOUT: On March 23, 2023, after market hours, LPL Financial issued a press release entitled “LPL Financial Reports Monthly Activity For February 2023” in which LPL Financial disclosed that its total net new assets plunged 40% to $5.2 billion in February 2023 as opposed to January of 2023. Further, release revealed that LPL Financial’s total advisory and brokerage assets were $1.15 trillion at the end of February 2023, down 1.5% from the end of January 2023. In addition, the release revealed that LPL Financial’s total client cash balances declined from $59.7 billion in January 2023 to $56.2 billion in February 2023, a decline of 5.9%.
On this news, LPL’s stock price fell $11.88 per share, or 5.8%, to close at $192.00 per share on March 24, 2023.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827