Defendant Name: Fifth Third Bancorp

Defendant Type: Public Company
SIC Code: 6711
CUSIP: 31677310

Initial Case Details

Legal Case Name In the Matter of Fifth Third Bancorp
First Document Date 22-Nov-2011
Initial Filing Format Administrative Action
File Number 3-14639
Allegation Type Issuer Reporting and Disclosure

Violations Alleged

Exchange Act
• Sec 13(a)
Other
• Regulation FD

Resolutions

First Resolution Date 22-Nov-2011

Related Documents:

34-65808 22-Nov-2011 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings, Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On November 22, 2011, the SEC accepted Fifth Third Bancorp's offer of settlement consenting to the entry of a Cease-and-Desist Order. According to the SEC: "These proceedings arise out of Fifth Third's violation of Section 13(a) of the Exchange Act and Regulation FD. In May 2011, Fifth Third selectively disclosed to certain investors that it would be redeeming a class of its trust preferred securities for about $25 per share. At the time, the securities were trading for about $26.50 per share. Fifth Third did not issue a Form 8-K or other public notice of the redemption until it became aware that investors who appeared to have learned of the redemption had been selling the securities to buyers who appeared to be unaware of the redemption. Fifth Third violated Regulation FD because it failed to consider how its decision to redeem the securities would affect investors in the market for those securities."