NEW YORK, Jan. 14, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. is investigating potential claims against certain officers and directors of Synchrony Financial (SYF).
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On November 2, 2018, a complaint was filed alleging that between October 21, 2016 and November 1, 2018, Synchrony falsely represented that its consistent and disciplined underwriting practices had led to a higher quality loan portfolio than those of its competitors. In truth, Synchrony relaxed its underwriting standards and increasingly offered private-label credit cards to riskier borrowers to sustain growth. The truth about Synchrony’s credit standards began to be revealed on April 28, 2017, when the company announced disappointing first quarter 2017 earnings driven by poor loan performance.
If you are a long term stockholder of Synchrony, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into Synchrony please go to https://bespc.com/synchrony/. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.