Thieler Law Corp advises investors with losses exceeding $100,000 of the January 2, 2019 lead plaintiff deadline in a class action lawsuit filed against Synchrony Financial (NYSE: SYF) (“Synchrony” or “the Company”). The suit is pending in the U.S. District Court for the District of Connecticut and investors, who purchased Synchrony Financial securities between October 21, 2016 and November 1, 2018, have until January 2, 2019 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Synchrony Financial securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period Synchrony falsely represented that its consistent and disciplined underwriting practices had led to a higher quality loan portfolio than those of its competitors.  In truth, Synchrony relaxed its underwriting standards and increasingly offered private-label credit cards to riskier borrowers to sustain growth.  The truth about Synchrony’s credit standards began to be revealed on April 28, 2017, when the company announced disappointing first quarter 2017 earnings driven by poor loan performance.

On July 26, 2018, several media outlets reported that Walmart had chosen a competitor to replace Synchrony.

On November 1, 2018, Walmart sued Synchrony accusing the Company of improper underwriting in connection with the Walmart/Synchrony credit card program.

Following this news, NYSE: SYF fell $3.01, or 10% to close at $26.43 on November 2, 2018.

If you were negatively impacted by your investment in Synchrony Financial securities between October 21, 2016 and November 1, 2018 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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