NEW YORK, Sept. 11, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against Discover Financial Services DFSMercury Systems, Inc. MRCYU.S. Bancorp USBand Fulgent Genetics, Inc. FLGT. Our investigations address whether these companies have violated federal securities laws and/or engaged in other illegal business practices. For more information on each case, see the link provided.

Discover financial services DFS

Discover is a digital banking and payment services company that offers credit card loans, personal student loans, personal loans, home loans, and deposit products to its customers.

In 2015, the US Consumer Financial Protection Bureau (“CFPB”) issued a consent order against Discover based on the CFPB’s finding that Discover engaged in illegal debt collection practices and that Discover misrepresented the minimum amounts due on billing statements as well as consumer tax information required to receive federal income tax benefits. In 2020, the CFPB issued a consent order against Discover based on its findings that Discover had violated the previous CFPB regulation, the Electronic Fund Transfer Act and the Consumer Financial Protection Act of 2010.

On July 20, 2022, Discover announced that it was “suspending its existing stock repurchase program until further notice due to an internal investigation related to its student loan administration practices and related compliance matters.” Discover further that “[t]The investigation is ongoing and will be conducted by an independent special committee appointed by the Board.”

As a result of this news, Discover’s stock price fell $8.49 per share, or 7.8%, to close at $100.00
per share on July 21, 2022.

For more information on the Discover investigation, visit: https://bespc.com/cases/DFS

Mercury Systems, Inc. MRCY

The investigation concerns whether Mercury and certain of its officers and/or directors engaged in securities fraud or…