Press release
Investigation announced for Investors in TransUnion (NYSE: TRU) over potential Wrongdoing
An investigation on behalf of investors in TransUnion (NYSE: TRU) shares over potential wrongdoing at TransUnion was announced.
Investors who purchased shares of TransUnion (NYSE: TRU) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain TransUnion directors breached their fiduciary duties and caused damage to the company and its shareholders.
Chicago, IL based TransUnion provides risk and information solutions. The company operates in three segments: U.S. Markets, International, and Consumer Interactive.
In 2017, the Consumer Financial Protection Bureau ("CFPB") imposed a law enforcement order on TransUnion to stop the Company from engaging in deceptive marketing regarding its credit scores and address other issues involving credit-related products (the "Consent Order"). Terms of the Consent Order required TransUnion and its subsidiaries to pay $13.9 million in restitution and $3 million in civil penalties. The Consent Order also provided that TransUnion had to submit a comprehensive compliance plan designed to ensure that the Company's advertising practices complied with all applicable federal laws and the terms of the Consent Order.
TransUnion reported that its annual Total Revenue rose from over $2.71 billion in 2020 to over $2.96 billion in 2021, and that its Net Income increased from $343 million in 2020 to over $1.38 billion in 2021.
On April 12, 2022, the CFPB announced that it was filing a lawsuit against TransUnion, TransUnion Interactive, Inc., TransUnion, LLC, and former key executive John Danaher for violating the Consent Order. CFPB stated in a press release that "TransUnion is an out-of-control repeat offender that believes it is above the law. …TransUnion's leadership is either unwilling or incapable of operating its businesses lawfully." Moreover, the Chairman of the House Select Subcommittee on the Coronavirus Crisis is concerned that TransUnion violated the Fair Credit Reporting Act for failing to respond to consumer complaints during the pandemic. Thus, TransUnion could face another investigation resulting from its disregard of its obligations to consumers.
Shares of TransUnion (NYSE: TRU) declined from $105 per share on March 30, 2022 to as low as $79.02 per share on May 19, 2022.
Those who purchased shares of TransUnion (NYSE: TRU) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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