FAF INVESTIGATION ALERT: Bernstein Liebhard LLP Announces Investigation of First American Financial Corporation

ACCESSWIRE
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NEW YORK, NY / ACCESSWIRE / October 22, 2020 / Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of First American Financial Corp., ("First American" or the "Company") (NYSE:FAF) resulting from allegations that First American and/or its executives may have issued materially misleading information to the investing public.

If you purchased First American securities, and/or would like to discuss your legal rights and options please visit First American FAF Shareholder Investigation or contact Matthew E. Guarnero toll-free at (877) 779-1414 or MGuarnero@bernlieb.com.

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 reports, First American said 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 May 28, 2019, the first trading day following the news, First American's shares fell $3.46 per share, about 6.3%, to close at $51.80 per share.

Then, on October 22, 2020, after the close of trading, First American announced that it had received a Wells Notice from the Securities and Exchange Commission. The Wells Notice was related to a preliminary determination by the SEC to file an enforcement action against First American in connection with the earlier security breach.

On this news the price of First American securities fell approximately $4.83 per share to close at $ 46.75 per share on October 22, 2020.

If you purchased First American securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/firstamericanfinancial-faf-shareholder-lawsuit-class-action-fraud-stock-137/ or contact Matthew E. Guarnero toll-free at (877) 779-1414 or MGuarnero@bernlieb.com.

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.

ATTORNEY ADVERTISING. © 2020 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information
Matthew E. Guarnero
Bernstein Liebhard LLP
http://www.bernlieb.com
(877) 779-1414
MGuarnero@bernlieb.com

SOURCE: Bernstein Liebhard LLP



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