Bragar Eagel & Squire investigates WisdomTree and Franklin in September 2024

Bragar Eagel & Squire, P.C., a law firm specializing in shareholder rights, is investigating potential claims against WisdomTree, Inc. and Franklin Resources, Inc. due to possible violations of federal securities laws. On August 6, 2024, WisdomTree received a Wells Notice from the SEC, indicating a preliminary determination to file an enforcement action against the company. This news led to a 2.5% drop in WisdomTree's stock price, closing at $9.76 per share, impacting investors negatively. In a related development, Franklin Resources faced scrutiny when its subsidiary, Western Asset Management Company, announced that co-Chief Investment Officer Ken Leech was on a leave of absence after also receiving a Wells Notice from the SEC. This notice was part of a broader investigation into allegations of 'cherry-picking' trades, where favored accounts may have been allocated winning trades. Following this announcement on August 21, 2024, Franklin's stock price plummeted by 12.56%, closing at $19.78 per share. The investigations into both companies highlight significant concerns regarding their compliance with federal securities regulations. The SEC's actions suggest that both firms may have engaged in unlawful business practices, which could lead to further legal repercussions. Investors are encouraged to seek more information regarding their rights and potential claims against these companies. Bragar Eagel & Squire is actively encouraging affected investors to contact the firm for assistance. The outcomes of these investigations could have lasting implications for both companies and their shareholders, as they navigate the legal challenges ahead.