NEW ORLEANS, July 31, 2021--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF continues its investigation into First American Financial Corp. ("FAF") (NYSE: FAF).
On May 24, 2019, KrebsOnSecurity.com reported a massive data exposure by FAF involving approximately 885 million customer files. Then, on October 22, 2020, FAF disclosed that, in relation to the 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."
Recently, the Company reached a settlement with the SEC over the breach that included a $487,616 fine.
The Company has been sued in a securities class action lawsuit for failing to disclose material information, violating federal securities laws, which remains ongoing.
KSF’s investigation is focusing on whether FAF’s officers and/or directors breached their fiduciary duties to FAF’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of FAF shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (email@example.com), or visit https://www.ksfcounsel.com/cases/nyse-faf/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
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Lewis Kahn, Managing Partner