DFS Lawsuit Loss Submission Form

The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Discover Financial Services (NYSE: DFS) who purchased common stock between February 21, 2019 and August 14, 2023. The action, which was filed in the United States District Court for the Northern District of Illinois, alleges that the Company violated federal securities laws.

In particular, the DFS lawsuit alleges that (i) DFS maintained deficient risk management and compliance procedures; (ii) as a result of the foregoing deficiencies, the Company had, inter alia, failed to comply with applicable student loan servicing standards, misclassified certain credit card accounts, overcharged customers, and failed to stem its ballooning credit card delinquency rate; (iii) the foregoing issues, when they became known, would subject DFS to significant financial exposure, regulatory scrutiny, and reputational harm; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

Shareholders have until October 31, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.

To learn more and keep informed, complete this form >