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Allianz warns of risk, confirms US Justice Department investigation


Allianz Financial Services Company is warning that lawsuits brought against the company by US investors could have a significant impact on its future financial results.

Allianz Financial Services Company is warning that lawsuits brought against the company by US investors could have a significant impact on its future financial results.

The leading German company disclosed on Sunday, noting that it received a request from the US Justice Department for documents and information related to the company’s Structured Alpha Funds business, which is at the center of investor lawsuits. The Securities and Exchange Commission began its investigation last year into the matter.

In a statement, Munich-based Allianz SE said that the Justice Department’s request, as well as “the information available to Allianz as of today” led the company’s management to conclude that “there is a relevant risk that Structured Alpha Fund-related matters may materially affect the future financial results of the Allianz Group.”

The company noted that it cannot estimate how much financial impact it may have at this point due to the uncertain outcome of the Securities and Exchange Commission and Department of Justice investigations and facing litigation.

At the time, Allianz said the complaints were “legally and factually flawed.”

Allianz is one of the largest insurance companies and financial services companies in the world. In May, the company said it had 2.432 billion euros ($2.89 billion) in total assets under management as of the end of the first quarter.

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