BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith announces an investigation on behalf of Fulton Financial Corporation (“Fulton” or the “Company”) (NASDAQ: FULT) investors concerning the Company’s possible violations of federal securities laws.
On September 28, 2020, the U.S. Securities and Exchange Commission (“SEC”) announced that the Company had been charged with accounting and disclosure violations. Specifically, the SEC stated that, in two quarters in which Fulton was on track to meet or beat analyst consensus EPS estimates, Fulton included a valuation allowance that “was at odds” with its reported methodology. Then, in mid-2017, “Fulton belatedly reversed the valuation allowance, increasing its EPS by a penny in a quarter when it otherwise would have fallen short of consensus estimates.”
On this news, Fulton’s share price fell sharply during intraday trading on September 29, 2020.
If you purchased Fulton securities, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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