Published on September 15th, 2019 📆 | 5482 Views ⚑0
The Schall Law Firm Announces it is Investigating Claims Against First American Financial Corp. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
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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