The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of First American Financial Corp. (NYSE: FAF) who purchased shares between February 17, 2017 and October 22, 2020. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the First American lawsuit alleges that (1) the Company failed to implement basic security standards to protect its customers’ sensitive personal information and data; (2) the Company faced a heightened risk of cybersecurity failure due to its automation and efficiency initiatives; and (3) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
Shareholders have until December 24, 2020 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.
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