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Law Firms Announce Shareholder Class Actions
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The Schall Law Firm, a national law firm specializing in securities class action lawsuits and shareholder rights litigation announced the filing of a class-action lawsuit against First American Financial Corporation in October 2020.

The firm is open to hearing from investors who purchased the company’s shares between February 17, 2017, and October 22, 2020 (the “class period”). Investors who suffered losses above $ 100,000 are encouraged to contact the firm before December 24, 2020. The class-action lawsuit is against the 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.

According to the complaint, First American made false and misleading statements to the market and also compromised with maintaining proper security procedures to protect its customers’ personal information from hackers and intruders. When the news about the company’s false and misleading statements and increased cyberattack risks broke out in the market, its investors suffered damages.

  
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Investors who wish to contact the firm can reach them through their website at www.schallfirm.com, or by email at brian@schallfirm.com.

Another law firm, Pomerantz LLP, a premier corporate, litigation, and antitrust class litigation law firm, announced that it is investigating claims against First American Financial Corporation on behalf of its investigators. The investigation pertains to determining if First American and its officers and/ or directors engaged in potential violations of the federal securities laws. The investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

As per the information available on the firm’s website, in May 2019, First American’s website leaked approximately 885 million records related to mortgage deals dating back to 2003. The documents leaked consisted of bank account numbers and statements, social security numbers, tax records, and other important personal information. These documents could be accessed by anyone with a web browser without any authentication. When the market learned about this failure, its share price fell by 6%. Then, in October 2020, First American made a disclosure about a Wells Notice received from the United States Securities and Exchange Commission. The notice informed about a preliminary determination to file an enforcement action against the company for its security breach. Upon such information, the company’s share price fell by 9.36%.

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The Gross Law Firm, a securities litigation law firm, announced shareholder class action lawsuits against three publicly traded companies. The three companies are Raytheon Technologies Corporation (NYSE: RTX), Zosano Pharma Corporation (NASDAQ: ZSAN), and Pinterest Inc. (NYSE: PINS).

The class action against Raytheon is based on allegations of making false and misleading statements and failure to make proper disclosures regarding its disclosure controls, financial accounting, financial reporting, and the company’s Missiles and Defense business since 2009. Shareholders who purchased the company’s shares between February 10, 2016, and October 27, 2020, are encouraged to contact the firm. The shareholders can apply until December 29, 2020, to be chosen as the lead plaintiff.



The class-action Zosano Pharma is based on allegations of making false and misleading statements regarding the company’s lead product candidate, Qtrypta. Shareholders who purchased the company’s shares between February 13, 2017, and September 30, 2020, are encouraged to contact the firm. The shareholders can apply until December 28, 2020, to be chosen as the lead plaintiff.

The class action against Pinterest Inc. is based on allegations of making false and misleading statements and failure to make proper disclosures regarding the company’s U.S market and its advertising revenue. Shareholders who purchased the company’s shares between May 16, 2019, and November 01, 2019, are encouraged to contact the firm. The shareholders can apply until January 22, 2021, to be chosen as the lead plaintiff.

Investors who wish to contact the firm can fill out the submission form on the firm’s website https://securitiesclasslaw.com/.



 

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