NEW YORK, Jan. 29, 2025 (GLOBE NEWSWIRE) — The law firm of Kirby McInerney LLP is investigating potential claims against Triumph Financial, Inc. (“Triumph” or the “Company”) (NASDAQ:TFIN). The investigation concerns whether Triumph and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
On January 22, 2025, after market hours, Triumph released its fourth quarter 2024 financial report, missing consensus estimates on revenue and earnings per share. The Company attributed their below-average earnings, in part, to credit costs being higher than they should have been. Triumph stated liquid credit was responsible for 62% of credit expenses in the quarter and “derisking and shrinking this portfolio has taken time and been frustrating” with the Company having to “learn lessons here that we will not forget.” Triumph also warned that first quarter 2025 earnings were expected to be even lower, and it does not anticipate material revenue will be generated from recently announced initiatives during the first half of 2025. On this news, the price of Triumph shares declined by $13.11, or approximately 14.3%, from $91.97 per share on January 22, 2025, to close at $78.86 on January 23, 2025.
If you purchased or otherwise acquired Triumph securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at [email protected], or by filling out the form below to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.
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Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
[email protected]
