Allianz shares sank after the German financial giant said the DOJ was investigating its hedge funds that caused investors significant losses during the pandemic-related market downturn early last year
Allianz SE shares sank after the German financial giant said the Justice Department is investigating its hedge funds that caused investors significant losses during the pandemic-related market downturn early last year.
Allianz on Sunday said its future earnings could be materially hit by the current investigations, which include the DOJ’s inquiry as well as a probe launched by the U.S. Securities and Exchange Commission last year. The insurer said it couldn’t estimate the size of any potential fines and therefore hasn’t set aside provisions.
Shares in Allianz were down more than 7% early Monday. If sustained, it would be the company’s biggest one-day share price loss since the early days of the Covid-19 pandemic in March 2020, according to FactSet.The company’s Allianz Global Investors unitlast March after they took heavy losses on stock-options trades. The funds, which managed nearly $2.3 billion, had been net buyers of puts, or options giving the holder the right to sell an asset at a predetermined price in the future.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
EastEnders' Toby Alexander Smith shares first snap with Emmerdale’s Amy WalshThe romance between the BBC and ITV stars was revealed late last year when they were pictured on the red carpet in London together
Leer más »
Today's Al Roker shares photo with his youngest daughter for bittersweet reasonToday show weatherman Al Roker detailed a difficult moment with his daughter and shared a bittersweet message with fans
Leer más »
Mark Wahlberg shares the heartwarming ritual he had with his late momThe Wahlberg matriarch passed away at the age of 78 in April.
Leer más »
These companies reporting earnings tend to miss expectations and see their shares slideCNBC PRO analyzed earnings data from Bespoke Investment Group to identify stocks reporting earnings that tend to miss Wall Street’s estimates and fall.
Leer más »
Stacey Solomon shares reason behind son Rex's heartbreakStacey Solomon melted hearts as she revealed why her son Rex was left feeling a little heartbroken
Leer más »
Chicago Fire's Monica Raymund shares rare selfie - and Miranda Rae Mayo had the best reactionChicago Fire star Miranda Rae Mayo had nothing but love for former co-star Monica Raymund, who played Gabby Dawson
Leer más »