SAN DIEGO–(BUSINESS WIRE)–Robbins Geller Rudman & Dowd LLP announces an investigation into possible violations of US federal securities laws by Discover Financial Services (NYSE: DFS) focused on whether Discover and any of its officers made false and misleading statements and/or failed to disclose material information to the investors.
If you have information that could assist in this investigation or if you are a Discover investor who suffered a loss and would like more information, please provide your information here:
You can also contact the lawyer Jennifer N. Caringal Robbins Geller by calling 800/449-4900 or by email at [email protected].
THE COMPANY: Discover is a digital banking and payment services company offering clients loans with credit cards, private student loans, personal loans, mortgage loans and deposit products. In 2015, the U.S. Consumer Financial Protection Bureau (“CFPB”) issued a consent order against Discover based on the CFPB’s finding that Discover engaged in illegal debt collection practices and that Discover misrepresented the minimum amounts due on billing statements, as well as on consumers’ tax information. necessary to obtain federal income tax benefits. In 2020, the CFPB issued a consent order against Discover based on its findings that Discover violated the CFPB’s previous order, the Electronic Funds Transfer Act and the Consumer Financial Protection Act of 2010.
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THE REVELATION: On July 20, 2022, Discover disclosed that it was “suspending its existing share buyback program until further notice due to an internal investigation related to its student loan servicing practices and related compliance matters.” Discover further revealed that “
In this news, the price of Discover Values fell nearly 9%, hurting investors.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The firm is ranked No. 1 in the 2021 ISS Securities Class Action Services Top 50 Report for recovering nearly $2 billion for investors last year alone, more than triple the amount recovered by any other plaintiff firm . With 200 attorneys in 9 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest class action recovery of values in history: $7.2 billion. in In re Enron Corp. Sec. Litigation Please visit the following page for more information:
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Robbins Geller Rudman & Dowd LLP
655 West Broadway, Suite 1900 San Diego, CA 92101
Jennifer N. Caringal, 800-449-4900