Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Central District of California on behalf of shareholders of First American Financial Corp. who purchased shares between February 17, 2017 and October 22, 2020.
FAF and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On October 22, 2020, FAF disclosed that, in relation to a massive 2019 data security breach, “[i]n September 2020, the Company received a Wells Notice informing the Company that the [Securities and Exchange Commission] enforcement staff has made a preliminary determination to recommend a filing of an enforcement action by the SEC against the Company.”
On this news, the price of FAF’s shares declined, injuring investors.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until December 24, 2020 to request that the court appoint them lead plaintiff.