An investigation on behalf of investors of Mitsubishi UFJ Financial Group Inc (ADR) (NYSE:MTU) shares over potential securities laws violations by Mitsubishi UFJ Financial Group and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Mitsubishi UFJ Financial Group Inc (ADR) (NYSE:MTU) concerning whether a series of statements by Mitsubishi UFJ Financial Group Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Japan based Mitsubishi UFJ Financial Group, Inc. (MUFJ) is a bank holding company. On November 7, 2017, Mitsubishi UFJ Financial Group, Inc converted the New York state license of a bank branch in New York to a federal license, with approval from the Office of the Comptroller of the Currency (the 'OCC').

On November 15, 2017, citing a letter from the New York Department of Financial Services ('DFS') to the OCC, it was reported that Mitsubishi UFJ Financial Group, Inc's license conversion followed a report by an independent monitor that 'the bank was 'taking actions that are inconsistent with complying' with a consent order it had agreed to in 2014 related to hiding illicit transactions involving Iran and other countries, including 'the termination of a competent and cooperative Chief Compliance Officer' in March and a 'lack of transparency' with the monitor about transaction data problems.' In its letter to the OCC, the DFS asserted that it 'was not given any reasonable opportunity to provide any input whatsoever' into MUFG's application for a federal banking license, and that '[t]he precipitous nature of this approval . . . is without precedent and raises significant questions as to both the process and substance of the OCC's decision.'

On November 24, 2017, Mitsubishi UFJ Financial Group Inc (ADR) (NYSE:MTU) shares closed at $6.83 per share.