Franklin Resources: DOJ Resolution Boosting Sentiment

1 day ago

Scarlet F.

"Let's take a look at Franklin Resources. So, ticker BN. Those shares are up today just slightly, 1.5%. So, that was up slightly more earlier, bearing some of those opening gains. But we did get news from the company itself. They said that the US Department of Justice is preparing to resolve an investigation into its fixed income unit Western asset management company without criminal charges. So clearly that's boying the stock a little bit this morning. Apparently the Justice Department told the company on the 13th of December that it is preparing to resolve the investigation through a disposition."

The commentary on Franklin Resources indicates a modest positive reaction as shares trade slightly higher following news that the DOJ is nearing a resolution on its investigation into the company's fixed income unit without criminal charges. This development seems to be calming investor concerns after a period of significant client outflows.

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