Press release
Lawsuit filed for Investors who lost money with shares of Discover Financial Services (NYSE: DFS)
A lawsuit was filed on behalf of investors in Discover Financial Services (NYSE: DFS) shares.
Investors who purchased shares of Discover Financial Services (NYSE: DFS) have certain options and for certain investors are short and strict deadlines running. Deadline: October 31, 2023. NYSE: DFS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On July 20, 2022, after trading hours, Discover Financial Services announced its financial results for its second quarter of 2022. Among other items, Discover Financial Services disclosed that "[t]he company is suspending until further notice its existing share repurchase program because of an internal investigation relating to its student loan servicing practices and related compliance matters. The investigation is ongoing and is being conducted by a board-appointed independent special committee."
On August 14, 2023, Discover Financial Services announced that its Board of Directors had "accepted the resignation of Roger C. Hochschild from his positions as Chief Executive Officer and President of the Company, a member of the Board and a director and officer of Discover Bank . . . , each effective August 14, 2023." In a separate filing with the U.S. Securities and Exchange Commission that same day, Discover disclosed that its credit card delinquency rate increased to 3.00% in July from 2.86% in June and now stands at higher level than the pre-pandemic rate of 2.37% in July 2019.
Shares of Discover Financial Services (NYSE: DFS) declined from $122.50 per share on July 19, 2023, to as low as $89.83 per share on August 25, 2023.
The plaintiff claims that between February 21, 2019 and August 14, 2023, the Defendants made false and/or misleading statements and/or failed to disclose that Discover Financial Services maintained deficient risk management and compliance procedures, that as a result of the foregoing deficiencies, the Company had, inter alia, failed to comply with applicable student loan servicing standards, misclassified certain credit card accounts, overcharged customers, and failed to stem its ballooning credit card delinquency rate, that the foregoing issues, when they became known, would subject Discover Financial Services to significant financial exposure, regulatory scrutiny, and reputational harm, and that as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased shares of Discover Financial Services (NYSE: DFS) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Lawsuit filed for Investors who lost money with shares of Discover Financial Services (NYSE: DFS) here
News-ID: 3204058 • Views: …
More Releases from Shareholders Foundation
ALERT: Lawsuit filed for Investors who SOLD shares of Sina Corporation (formerly …
An investor, who sold shares of Sina Corporation (formerly NASDAQ: SINA) in the merger between Seina Corporation and TuSimple Holdings, Inc, filed a lawsuit over alleged violations of Federal Securities Laws by Sina Corporation (formerly NASDAQ: SINA in connection with certain allegedly false and misleading statements made.
If you sold a significant amount of shares of Sina Corporation (formerly NASDAQ: SINA) between October 13, 2020 and March 22, 2021, you have…
Lawsuit Alert: Investors who lost money with shares of Fluor Corporation (NYSE: …
An investor, who purchased shares of Fluor Corporation (NYSE: FLR), filed a lawsuit alleged violations of Federal Securities Laws by Fluor Corporation in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Fluor Corporation (NYSE: FLR) have certain options and for certain investors are short and strict deadlines running. Deadline: November 14, 2025. NYSE: FLR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779…
Investigation announced for Long-Term Investors in shares of Sable Offshore Corp …
An investigation was announced for long-term investors in shares of Sable Offshore Corp. (NYSE: SOC) concerning potential breaches of fiduciary duties by certain directors of Sable Offshore Corp.
Investors who are current long term investors in Sable Offshore Corp. (NYSE: SOC) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in…
Lawsuit filed for Investors who lost money with shares of Lantheus Holdings, Inc …
An investor, who purchased shares of Lantheus Holdings, Inc. (NASDAQ: LNTH), filed a lawsuit over alleged violations of Federal Securities Laws by Lantheus Holdings, Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Lantheus Holdings, Inc. (NASDAQ: LNTH) have certain options and for certain investors are short and strict deadlines running. Deadline: November 10, 2025. NASDAQ: LNTH investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com…
More Releases for Discover
Discover Prohumidite's Expert Moisture Diagnosis Services
Effective methods to identify and resolve indoor moisture problems
Image: https://www.getnews.info/uploads/4371afe7578d015aaf5b1fe673b5908f.png
BRUSSELS, Prohumidite Humidity Treatment Brussels, a leading provider of moisture management solutions, is pleased to announce the launch of their specialized Moisture Diagnosis Services [https://prohumidite.be/diagnostic-dhumidite/]. Designed to address the growing concerns of moisture-related issues in residential and commercial properties, Prohumidite's new service offering aims to provide comprehensive solutions for identifying and treating problems such as rising damp and water infiltration.
Moisture problems…
Discover Luchi Lewinski and Her Music
New York City, NY, 23rd Dec 2021, ZEXPRWIRE, Luchi Lewinski is an aspiring independent artist. She was born in raised in Ypsilanti, Michigan a small city about 30 minutes west of Detroit, Michigan. Now she resides in Miami, FloridaShe has been making music for almost five years. Since she has began her musical journey she has accumulated over 500,000 views. She has thousands of followers on all of her social…
#Discover HARP: results and prospects
2018 was marked for Kharkov Bearing Plant by Discover HARP large presentation world tour. What is its essence? One time HARP products were supplied to over 40 countries of the world. After the collapse of the Soviet Union, the plant lost the connections with many markets for some time. In the 2000s the taken track to deep production allowed HARP not only to rebuild but also to increase the production…
A Summer to discover mushrooms
Summer is sea time but also mountain time. Italy is the ideal place to spend a few days on the hill and take advantage of nature in order to discover the varieties of mushrooms that live there.
Increasing the culture of mycology is the challenge launched by iMico, a serious game app of the SME Lucana iInformatica.
The name comes from the union of the two key concepts that underlie the application,…
Dream & Discover Aqua-Gulf
Date: 21-02-2017 to 28-02-2017
Address: 15625 Front Beach Road, Panama City Beach, Florida, 32413
Email: info@aqua-gulf.com
It's a perfect time to mark out the Resort like a place, one of the best vocational spot. What would be the perfect resort for you to end the vacations? Here the name comes “Aqua-Gulf”, one of the best tourist places with extraordinary views situated between the beautiful gulf shores.
It is the one of the beautiful platform…
Discover Malaga with bike2malaga
Anyone who has had enough of guided city tours in large groups with a tight schedule and boring information, you've come to the right place: bike2Malaga - Bike Tours and Rentals Malaga (www.biketoursmalaga.com). A varied mixture of history, culture and authentic anecdotes about the Malagenian lifestyle are awaiting the visitor. The guided tours take place on comfortable bikes and can be booked in various languages. Experienced tour guides will give…
