NEW YORK, NY / ACCESSWIRE / October 17, 2019 / Pomerantz LLP is investigating claims on behalf of investors of First American Financial Corporation ("First American" or the "Company") (FAF). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether First American and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On May 24, 2019, Brian Krebs of krebsonsecurity.com published a report alleging that First American may have allowed unauthorized access to more than 885 million records related to mortgage deals going back to 2003. According to the report, First American stated that it learned of a "design defect in one of its production applications that made possible unauthorized access to customer data" and has shut down external access.
On this news, First American's stock price fell $3.46 per share, or 6.26%, to close at $51.80 per share on May 28, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris 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, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm 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.pomerantzlaw.com.
SOURCE: Pomerantz LLP