LOS ANGELES–(COMMERCIAL THREAD) –Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors from Discover Financial Services (“Discover” or “the Company”) (NYSE: DFS) for violating securities laws.
The investigation focuses on whether the Company has made false and / or misleading statements and / or failed to disclose relevant information to investors. Discover was belatedly disclosed in a February 26, 2020 regulatory filing that claimed the Consumer Financial Protection Bureau (“CFPB”) was investigating its student loan management practices and compliance with the consent order accepted by the company in 2015. Prior to this disclosure, the company embarked on a multi-year campaign to assure investors that its reforms kept it in compliance with the 2015 Consent Ordinance. The company has consistently touted the effectiveness of its internal controls and others. improvements assumed to maintain CFPB compliance. Based on this news, Discover shares fell 6.5% on February 27, 2020.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at [email protected]
The class in this case has not yet been certified, and until certification occurs, you are not represented by legal counsel. If you choose not to take any action, you can remain an absent member of the group.
Schall law firm represents investors around the world and specializes in securities class actions and shareholder rights litigation.
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