By:
New York, New York–(Newsfile Corp. – July 23, 2023) – Pomerantz LLP is investigating claims on behalf of investors of Discover Financial Services (“Discover” or the “Company”) NYSE: DFS. Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Discover and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On July 20, 2023, pre-market, Discover revealed that it was in discussions with regulators relating to the Company’s misclassification of certain credit card products over an approximately 15-year period. Discover incorrectly classified certain credit card accounts into its highest merchant and merchant acquirer pricing tier, beginning around mid-2007.
On this news, Discover’s stock price fell $19.40 per share, or 15.92% percent, to close at $102.45 per share on July 20, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
888-476-6529 ext. 7980
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/174573
