NEW YORK, NY / ACCESSWIRE / October 26, 2020 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of First American Financial Corporation ("First American" or "the Company") (NYSE:FAF). Investors who purchased First American securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/faf.
The investigation concerns whether First American and certain of its officers and/or directors have violated federal securities laws.
On May 24, 2019, KrebsOnSecurity reported that First American's website "leaked hundreds of millions of documents related to mortgage deals going back to 2003." The records included bank account numbers and statements, mortgage and tax records, Social Security numbers, wire transaction receipts, and driver's license images-all of which "were available without authentication to anyone with a Web browser." Approximately 885 million records were exposed. On this news, First American's stock price fell $3.31 per share, or 6%, to close at $49.52 per share on May 27, 2019. Then, on October 22, 2020, after the market closed, First American disclosed receipt of a Wells Notice from the U.S. Securities and Exchange Commission ("SEC"), regarding a preliminary determination to file an enforcement action against the Company related to the security breach. Specifically, the SEC questioned the adequacy of the Company's disclosures at the time of the incident and the adequacy of its disclosure controls. On this news, First American's stock price fell $4.83 per share, or 9.36%, to close at $46.75 per share on October 22, 2020.
If you are aware of any facts relating to this investigation, or purchased First American shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/faf. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
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