LPL Financial Holdings Inc.

Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of LPL Financial Holdings Inc. (NASDAQ: LPLA) resulting from allegations that LPL may have issued materially misleading business information to the investing public.

If you purchased LPL Financial securities and would like to join the prospective action, please click “Join This Class Action.”

If you purchased LPL securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of investigation:

On March 23, 2023, after market hours, LPL Financial issued a press release entitled “LPL Financial Reports Monthly Activity For February 2023” in which LPL Financial disclosed that its total net new assets plunged 40% to $5.2 billion in February 2023 as opposed to January of 2023. Further, release revealed that LPL Financial’s total advisory and brokerage assets were $1.15 trillion at the end of February 2023, down 1.5% from the end of January 2023. In addition, the release revealed that LPL Financial’s total client cash balances declined from $59.7 billion in January 2023 to $56.2 billion in February 2023, a decline of 5.9%.

On this news, LPL Financial’s stock price fell $11.88 per share, or 5.8%, to close at $192.00 per share on March 24, 2023.

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Company Name: LPL Financial Holdings Inc.
Stock Symbol: LPLA
Class Period: N/A
Court: N/A

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The Rosen Law Firm has been ranked among the top 4 law firms each year since 2013 for the number of successful securities class actions on behalf of investors. In 2019 alone, our firm recovered $438 million for investors.

Investors should carefully identify and select experienced counsel with a track record of success leading securities class actions. Often other firms issue press releases about class actions yet do not have comparable experience or resources.

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The Rosen Law Firm represents investors throughout the globe. Our mission is to prosecute securities fraud class actions and protect shareholders’ rights.

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