-

SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation of Discover Financial Services and Encourages Long-Term Investors to Contact the Firm – DFS

PHILADELPHIA--(BUSINESS WIRE)--Kaskela Law LLC announces that it is investigating Discover Financial Services (NYSE: DFS) (“Discover Financial”) on behalf of the company’s long-term investors.

On July 19, 2023, Discover Financial disclosed in a statement that the company had misclassified some of its credit cards. Specifically, Discover Financial revealed that it misclassified certain credit card accounts into its highest pricing tier, starting in 2007, meaning merchants were charged more than they should have been to accept the cards for payment. Discover Financial indicated the company is discussing the matter with regulators and warned it could face future regulatory actions. Discover Financial also disclosed that it received a proposed consent order from the FDIC for a consumer compliance issue which is different than the misclassification matter. Following this news, shares of the company’s stock declined $19.40 per share, or 16% in value, to close on July 20, 2023 at $102.83 per share, on unusually heavy trading volume.

Then, on August 14, 2023, Discover Financial disclosed that Roger Hochschild was stepping down as President and CEO as well as giving up his position as a member of the company’s board of directors. Following this news, shares of the company’s stock declined an additional $9.69 per share, or 9.5% in value, to close on August 15, 2023 at $92.96 per share, again on unusually heavy trading volume.

The investigation seeks to determine whether the members of Discover Financial’s board of directors violated the securities laws and/or breached their fiduciary duties in connection with the above.

Long-term Discover Financial investors are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750, or by email (skaskela@kaskelalaw.com / abell@kaskelalaw.com) or online at https://kaskelalaw.com/cases/discover-financial-services/, for additional information about this investigation and their legal rights and options.

Kaskela Law exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.

Contacts

KASKELA LAW LLC
D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750
www.kaskelalaw.com

Industry:

Kaskela Law LLC

NYSE:DFS
Release Versions
English

Contacts

KASKELA LAW LLC
D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750
www.kaskelalaw.com

More News From Kaskela Law LLC

NAPCO STOCKHOLDER ALERT: Kaskela Law Firm Announces Investigation of Napco Security Technologies (NSSC) and Encourages Current NSSC Stockholders to Contact the Firm

PHILADELPHIA--(BUSINESS WIRE)--Kaskela Law announces that it is investigating Napco Security Technologies, Inc. (Nasdaq: NSSC) (“Napco”) on behalf of the company’s stockholders. Click here for additional information: https://kaskelalaw.com/case/napco-nssc/ Recently a securities fraud complaint was filed against Napco on behalf of certain investors who purchased shares of the company’s stock between February 5, 2024 and February 3, 2025 (the “Wrongdoing Period”). According to the complaint, duri...

KELLY SERVICES INVESTOR ALERT: Kaskela Law Firm Announces Stockholder Investigation of Kelly Services (KELYA) and Encourages Investors to Contact the Firm to Explore Their Legal Rights and Options

PHILADELPHIA--(BUSINESS WIRE)--Kaskela Law announces that it is investigating Kelly Services, Inc. (Nasdaq: KELYA) (“Kelly”) on behalf of the company’s stockholders.The investigation seeks to determine whether Kelly and/or the company’s officers and directors violated the securities laws or breached their fiduciary duties in connection with recent corporate actions.Kelly stockholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) to receive additional...

SHAREHOLDER ALERT: Kaskela Law Announces Probe into $127.00 Per Share Buyout Offer – Fair or Inadequately Low Price for Integer (ITGR) Shares?

PHILADELPHIA--(BUSINESS WIRE)--Kaskela Law is investigating the adequacy of the recently announced proposed buyout of Integer Holdings Corporation (NYSE: ITGR) (“Integer” or the “Company”) shareholders to determine whether investors may be able to obtain a higher price for their shares.Click here for additional information about the investigation: https://kaskelalaw.com/case/integer-holdings/On August 3, 2026, Integer announced that it had agreed to be acquired by funds affiliated with private e...
Back to Newsroom