MUNICH (dpa-AFX) - German insurance and asset management company Allianz (AZSEY.PK) warned that its earnings could be materially hurt by a U.S. Justice Department investigation into its Structured Alpha Fund.
The U.S. Department of Justice has begun an investigation concerning the Structured Alpha Funds, and Allianz Global Investors U.S. LLC has received a voluntary request for documents and information from the Justice Depratment. The investigation came after the litigation pending in U.S. courts in relation to the Structured Alpha Funds against Allianz Global Investors U.S. LLC and other Allianz Group companies and the investigation launched by the U.S. Securities and Exchange Commission in 2020.
Allianz said it is fully cooperating with the SEC and the DOJ in the investigations and has immediately started its own review of this matter.
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