NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Discover Financial Services (“Discover” or the “Company”) (NYSE: DFS) on behalf of Discover stockholders. Our investigation concerns whether Discover has violated the federal securities laws and/or engaged in other unlawful business practices.
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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.
If you purchased or otherwise acquired Discover 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 or Marion Passmore by email at firstname.lastname@example.org, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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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.