SAN FRANCISCO, CA / ACCESSWIRE / Nov 5, 2020 / Hagens Berman Updates Investors in the Following Listed Companies and encourages investors who have suffered significant losses to reach out to the company. For more details on the cases, see the links provided.
FAF Investors Click Here.
GOCO investors click here.
American Financial (NYSE: FAF) first class action lawsuit against securities fraud::
Classes: February 17, 2017 – October 22, 2020
Lead plaintiff deadline: December 24, 2020
Contact an attorney now: [email protected]
The lawsuit focuses on the accuracy of First American’s statements about the company’s privacy practices and procedures.
Specifically, the complaint alleges that defendants made investors aware of First American’s basic security standards for protecting their customers’ sensitive personal information and data and the increased risk of cybersecurity failure as a result of their automation and efficiency initiatives, which First American considered a clear one Announced competitive advantage would have been misleading.
According to the lawsuit, investors began to learn the truth on May 24, 2019 when KrebsOnSecurity.com, a well-known cybersecurity blog, reported that First American had leaked hundreds of millions of title insurance records. KrebsOnSecurity reportedly confirmed a tip from a real estate developer and found that approximately 885 million files were posted on the First American website, many of which are records of wire transfer transactions with bank account numbers and other personal information.
Then, on October 22, 2020, First American announced that it had received a Wells notice from the SEC informing the company that SEC employees were determined to recommend that the SEC take enforcement action against the Company related to the disclosure and control of the aforementioned leak.
These events drove First American shares down sharply.
If you are a First American investor and are experiencing significant losses, or have knowledge to assist the Company’s investigation and pursuit of this matter, click here to discuss your statutory rights with Hagens Berman.
Class action lawsuit against securities of GoHealth (NASDAQ: GOCO)::
Course times: July 12, 2020 – September 21, 2020
Lead plaintiff deadline: November 20, 2020
Contact an attorney now: [email protected]
The complaint alleges that GoHealth’s IPO offer documents contained materially false and misleading statements and omissions. In particular, the offering materials allegedly misrepresented or failed to disclose that: (1) the Medicare insurance industry was experiencing a period of high customer churn that began in the first half of 2020; (2) GoHealth’s unique business model and limited carrier base have placed the company at greater risk of churn. (3) GoHealth suffered from a deterioration in customer loyalty due to increased churn. (4) GoHealth had already made far more unfavorable agreements with its external sales staff on the distribution of income. and (5) GoHealth internally forecast that these adverse trends would continue and worsen after the IPO.
The IPO offer documents enabled GoHealth to go public and issue 43.5 million shares to investors at a price of $ 21 per share for total proceeds of approximately $ 913.5 million.
However, since going public, GoHealth has reported disappointing financial performance as a result of the key facts omitted in the IPO offering documents, and its common stock has suffered significant falls. Through September 15, 2020, GoHealth Class A common stock closed at just $ 12.53 per share, or over 40% below the $ 21 per share price investors paid for the stock less than two months earlier when it went public.
If you’re a GoHealth investor or would like to assist with the company’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Individuals with nonpublic information about First American and / or GoHealth should review their options to help with the investigation or to use the SEC’s whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards of up to 30 percent for each successful SEC recovery. For more information, call Reed Kathrein at 844-916-0895 or send an email to [email protected] and / or [email protected]
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities across the country and eighty attorneys. The firm represents investors, whistleblowers, employees and consumers in complex legal disputes. More information about the company and its achievements can be found at hbsslaw.com. For the latest news, visit our newsroom or follow us on Twitter @classactionlaw.
SOURCE: Hagens Berman Sobol Shapiro LLP
View source version on accesswire.com:
https://www.accesswire.com/614955/FAF-GOCO-INVESTOR-ALERT-Hagens-Berman-National-Trial-Attorneys-Encourages-FAF-GOCO-Investors-with-Losses-to-Contact-the-Firm- Class security fraud lawsuits filed