NEW YORK, Oct. 23, 2020 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against First Financial Corporation (NYSE: FAF) on behalf of First American Financial stockholders. Our investigation concerns whether First American Financial has violated the federal securities laws and/or engaged in other unlawful business practices.
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On May 24, 2019, KrebsOnSecurity reported that the Company’s website “leaked hundreds of millions of documents related to mortgage deals going back to 2003.” The records included bank account numbers and statements, mortgage and tax records, Social Security numbers, wire transaction receipts, and driver’s license images—all of which “were available without authentication to anyone with a Web browser.” Approximately 885 million records were exposed.
On this news, the First American Financial’s share price fell $3.31, or 6%, to close at $49.52 per share on May 28, 2019, thereby injuring investors.
On October 22, 2020, after the market closed, First American Financial disclosed that it had received a Wells Notice from the SEC, regarding a preliminary determination to file an enforcement action against the Company related to the security breach. The SEC questioned the adequacy of the Company’s disclosures at the time of the incident and the adequacy of its disclosure controls.
On this news, First American Financial’s share price fell sharply, to close at $48.42 per share on October 23, 2020 (the following trading day).
If you purchased or otherwise acquired First American Financial shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at [email protected], or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
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