Shareholder Alert: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of BlackRock, Inc. (BLK)

NEW YORK, June 24, 2016 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of BlackRock, Inc. and certain affiliated entities (collectively, "BlackRock" or the "Company") (NYSE: BLK). Such investors are advised to contact Peretz Bronstein or his investor relations analyst Yael Hurwitz at [e-mail] or 212-697-6484. 

The investigation concerns whether BlackRock and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

On August 24, 2015 the U.S. financial markets became unstable on when the S&P 500 index dropped to 5.3% in the opening minutes of trading, and then closed for the day at 3.9%. At this time, hundreds of Exchange Traded Funds ("ETFs") traded at heavily discounted prices of their holdings and tracking index. One example: At on August 24, 2015 at 9:42am, Black Rock's iShares Select Dividend ETF dropped 35% to $48, its lowest price of the day. By contrast, the collective weighted values of the stocks held by the ETF at that time was $72.42, only a 2.7% decline. 

This investigation concerns whether BlackRock failed to warn investors in the Company's BlackRock iShares ETFs that during this market instability, ETFs are not as liquid as advertised. BlackRock should have also notified its investors that the use of open market orders and stop loss orders could damage investors.

If you are aware of any facts relating to this investigation, or purchased BlackRock securities between June 16, 2013 and August 24, 2015, you can assist this investigation by visiting the firm's site: http://www.bgandg.com/#!blk/od22u. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484 or via email [e-mail]. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [e-mail]

 

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SOURCE Bronstein, Gewirtz & Grossman, LLC

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