An investigation on behalf of investors in Discover Financial Services (NYSE:DFS) shares over potential wrongdoing at Discover Financial Services was announced.
San Diego, CA -- (SBWIRE) -- 10/06/2022 -- Certain directors of Discover Financial Services are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of Discover Financial Services (NYSE: DFS) have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Discover Financial Services directors breached their fiduciary duties and caused damage to the company and its shareholders.
Riverwoods, IL based Discover Financial Services, through its subsidiaries, operates as a digital banking and payment services company in the United States.
Discover Financial Services reported that its annual Total Revenue increased from over $11.08 billion in 2020 to over $12.08 billion in 2021, and that its Net Income rose from over $1.14 billion in 2020 to over $5.44 billion in 2021.
On July 20, 2022, after trading hours, Discover Financial Services announced its financial results for its second quarter of 2022. Among other items, Discover Financial Services disclosed that "[t]he company is suspending until further notice its existing share repurchase program because of an internal investigation relating to its student loan servicing practices and related compliance matters. The investigation is ongoing and is being conducted by a board-appointed independent special committee."
Shares of Discover Financial Services (NYSE: DFS) declined from $109.95 per share on July 20, 2022, to as low as $97.39 per share July 28, 2022.
Those who purchased shares of Discover Financial Services (NYSE: DFS) have certain options and should contact the Shareholders Foundation.
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