Compass Point on Banks: Private Label Lawsuit Filed...See Continued Issue (C, GS, UBS, BAC, WFC, JPM, STI, HRB, FHN)

Article Stock Quotes (9) Comments (0)

Compass Point on Banks: Private Label Lawsuit Filed...See Continued Issue

Analyst, Kevin Barker, said, "Bloomberg published an article last night discussing yet another private label reps/warrants lawsuit that was filed against CitiGroup (NYSE: C)(NotCovered), Goldman Sachs (NYSE: GS)(NC) and UBS (NYSE: UBS)(NC). We continue to see new private label lawsuits pop up practically every week and believe they will continue to be a big deal for some financial institutions, including Bank of America (NYSE: BAC)(NC), Wells Fargo (NYSE: WFC)(Buy, $41 PT), JP Morgan (NYSE: JPM)(NC), SunTrust (NYSE: STI)(Buy, $29 PT), H&R Block (NYSE: HRB)(Buy, $18.50 PT), and First Horizon (NYSE: FHN)(Neutral, $8 PT).

As far as Barker is concerned, the lawsuits (which are filed as alleged fraud, versus more typical breach of contract suit) are a lot easier to file, but are much harder to win.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• UPDATE: Citi Raises PT on Micron Technology (MU) to $19
• Goldman Sachs Starts ChannelAdvisor (ECOM) at Buy
• Walter Energy (WLT) Could Rebound as 'Fears Adjust to Reality' - Analyst

Create E-mail Alert Related Categories

Analyst Comments, Litigation

Related Entities

UBS, JPMorgan, Citi, Bank of America, Wells Fargo

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?