HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Discover Financial Services (DFS) Investors with Losses to Contact Firm's Attorneys, Firm Investigating Possible Securities Law Violations
San Francisco, California--(Newsfile Corp. - August 5, 2022) - Hagens Berman urges Discover Financial Services (NYSE: DFS) investors who suffered significant losses to submit your losses now. The firm is investigating possible securities law violations.
Discover Financial Services (NYSE: DFS) Investigation:
The investigation focuses on Discover's statements concerning its compliance with applicable laws and regulations and fulfilment of obligations under consent orders entered into with the Consumer Financial Protection Bureau to remediate deceptive student loan servicing activities.
Specifically, on July 20, 2022, Discover announced it was conducting an internal investigation into its student loan servicing practices and related compliance matters. As a result, Discover decided to suspend until further notice its existing $4.2 billion share repurchase program.
This news sent the price of Discover shares nearly 9% lower on July 21, 2022, wiping out nearly $1.4 billion of shareholder value.
"We're focused on whether Discover misled investors about the propriety of its student loan servicing practices," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Discover and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Discover should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email DFS@hbsslaw.com.
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About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
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