An investigation for investors in NYSE:BLK shares over potential securities laws violations by BlackRock and certain of its directors and officers in connection certain financial statements was announced.
Investors who purchased shares of BlackRock, Inc. (NYSE:BLK) between June 16, 2013 and August 24, 2015, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether BlackRock, Inc. failed to warn investors in the Company’s BlackRock iShares Exchange Traded Funds that during this market instability, Exchange Traded Funds are not as liquid as advertised and whether BlackRock, Inc. should have also notified its investors that the use of open market orders and stop loss orders could damage investors.
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 Exchange Traded Funds dropped 35% to $48, its lowest price of the day. By contrast, the collective weighted values of the stocks held by the Exchange Traded Funds at that time was $72.42, only a 2.7% decline.
BlackRock, Inc. reported that its annual Total Revenue rose from over $9.33 billion in 2012 to over $11.4 billion in 2015 and that its Net Income increased from over $2.45 billion in 2012 to over $3.34 billion in 2015.
Shares of BlackRock, Inc. (NYSE:BLK) grew from $170.67 per share in mid 2012 to as high as $378.64 per share in March 2015.
Those who purchased NYSE:BLK shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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