According to the lawsuit, throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that:
- Allianz did not have effective internal controls;
- Allianz’s subsidiary was involved in substantial fraudulent activity;
- as a result, Allianz was at an increased risk of regulatory scrutiny;
- as a result, Allianz was at an increased risk of substantial losses and financial costs; and
- as a result, Defendants’ public statements were materially false and misleading at all relevant times.