LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of First American Financial Corp. (“First American” or “the Company”) (NYSE: FAF) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. First American was the subject of a report by computer security expert Brian Krebs published on May 24, 2019. Krebs alleged that the Company failed to secure its systems, allowing access for unauthorized parties to almost 900 million mortgage transaction records dating back to 2003. According to the report, First American admitted that it found a “design defect in one of its production applications that made possible unauthorized access to customer data,” eventually fixing the security hole. Based on this news, shares of First American fell by more than 6% on May 28, 2019.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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