Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Discover Financial Services (“Discover” or the “Company”)
Investors suffering losses on their Discover investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action.
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The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) DFS maintained deficient risk management and compliance procedures; (2) as a result of the foregoing deficiencies, the Company had, inter alia, failed to comply with applicable student loan servicing standards, misclassified certain credit card accounts, overcharged customers, and failed to stem its ballooning credit card delinquency rate; (3) the foregoing issues, when they became known, would subject DFS to significant financial exposure, regulatory scrutiny, and reputational harm; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit.
Howard G. Smith
Responsive, Aggressive, and Knowledgeable
Located near Philadelphia, Pennsylvania, and with associations all across the country, the Law Offices of Howard G. Smith has been helping injured investors recover their money for over 15 years. The firm has represented clients in federal and state courts throughout the country. The Law Offices of Howard G. Smith has developed a worldwide reputation for excellence in the prosecution of securities fraud, takeover and derivative litigation brought against public companies, their officers, directors, and advisors. The Law Offices of Howard G. Smith has had success helping its clients recover hundreds of millions of dollars in losses. Unlike other firms, our promise to you, as our client, is that a lawyer will promptly answer any question that you have. You will never have to talk to a receptionist. We are dedicated to customer service, and look forward to proving our commitment to you.
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