Haeggquist & Eck, LLP Investigates Claims on Behalf of Investors of Discover Financial Services (NYSE: DFS)
08 Dezembro 2023 - 11:01AM
Business Wire
Haeggquist & Eck, LLP, a shareholder and consumer rights
litigation firm, is investigating claims on behalf of investors of
Discover Financial Services (“Discover” or the “Company”) (NYSE:
DFS). Such investors are advised to contact Amber Eck at
ambere@haelaw.com or (619) 342-8000.
The investigation concerns whether Discover and certain of its
officers and/or directors have violated the securities laws and/or
breached their fiduciary duties.
Specifically, on September 29, 2023, Discover announced in its
8-K filed with the SEC that it had entered into a consent order
with the FDIC addressing “shortcomings” in the bank’s compliance
management system. The FDIC’s examination in 2021 determined
Discover engaged in “unsafe or unsound banking practices,” in part
by failing to establish a compliance management system to meet
consumer protection laws, according to the consent order. The FDIC
also found violations of the Federal Trade Commission Act, the
Truth-in-Lending Act, the Servicemembers Civil Relief Act and the
Electronic Records and Signatures in Commerce Act.
In addition, Discover disclosed on October 26, 2023, in its 10-Q
filed with the SEC that it was “cooperating with an SEC
investigation into the card product misclassification matter.”
Discover admitted that it had “incorrectly classified certain
credit card accounts into its highest merchant and merchant
acquirer pricing tier” that “affected pricing for certain merchants
and merchant acquirers.” Discover has calculated $376 million in
liability to provide refunds to merchants for this
misclassification.
What You Can Do
If you are a Discover shareholder, you may have legal claims
against its directors and officers. If you wish to discuss this
investigation, or have questions about this notice or your legal
rights, please contact attorney Amber Eck at 619-342-8000 or e-mail
her at ambere@haelaw.com. There is no cost or obligation to
you.
Haeggquist & Eck, LLP is a nationally recognized leader in
shareholder rights law. The firm represents individual investors in
shareholder derivative lawsuits, and members of the firm have
helped shareholders recover more than $1 billion of value for
themselves and the companies in which they have invested.
This release constitutes attorney advertising. Past results do
not guarantee a similar outcome.
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version on businesswire.com: https://www.businesswire.com/news/home/20231208638155/en/
Amber Eck, ambere@haelaw.com Haeggquist & Eck, LLP
619-342-8000
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