- Allianz funds hit by coronavirus market turmoil in 2020
- Investors suing Allianz for $6 billion in damages
- Allianz disclosed U.S. justice department probe in August
- DOJ looking into possible misrepresentation of risk – sources
FRANKFURT/WASHINGTON, Sept 10 (Reuters) – The U.S. Department of Justice (DOJ) investigation into German insurer Allianz (ALVG.DE) is looking at possible misconduct by fund managers and misrepresentation of risk to investors, three people with knowledge of the matter told Reuters.
The probe, disclosed by the company on Aug. 1, is focused on Allianz funds that used complex options strategies to generate returns but racked up massive