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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Allianz Ag Muenchen Namen (PK) | USOTC:ALIZF | OTCMarkets | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1.75 | 0.45% | 389.25 | 368.76 | 397.04 | 389.25 | 389.25 | 389.25 | 5 | 20:05:34 |
From Mar 2020 to Mar 2025
By Mauro Orru
Allianz SE said future earnings could be hit by current investigations into its Structured Alpha funds that have been linked to investor losses during the coronavirus-related market downturn early last year.
The German insurer said Sunday that the U.S. Justice Department had launched an investigation into the funds, alongside a separate investigation that the U.S. Securities and Exchange Commission began last year.
The probes stem from lawsuits filed against Allianz by institutional investors as well as individual plaintiffs over the insurer's Structured Alpha funds that allege several billion dollars in losses, the company said in its 2020 report. Allianz said in the report that it intends to defend itself against the allegations.
Stocks fell sharply in March 2020 as investors responded to news on the spread and economic impact of the coronavirus, with market volatility reaching a record high.
Allianz said Sunday it is cooperating with the Justice Department and the SEC, and has launched its own review.
The insurer hasn't recognized provisions at this stage, but said "there is a relevant risk that the matters relating to the Structured Alpha funds could materially impact future financial results of Allianz Group."
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
August 02, 2021 03:13 ET (07:13 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
1 Year Allianz Ag Muenchen Namen (PK) Chart |
1 Month Allianz Ag Muenchen Namen (PK) Chart |
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