{"id":782936,"date":"2023-09-10T17:48:59","date_gmt":"2023-09-10T21:48:59","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/class-action-lawsuit-alert-kaskela-law-llc-announces-class-action-lawsuit-against-discover-financial-services-dfs-and-encourages-long-term-investors-to-contact-the-firm\/"},"modified":"2023-09-10T17:48:59","modified_gmt":"2023-09-10T21:48:59","slug":"class-action-lawsuit-alert-kaskela-law-llc-announces-class-action-lawsuit-against-discover-financial-services-dfs-and-encourages-long-term-investors-to-contact-the-firm","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/class-action-lawsuit-alert-kaskela-law-llc-announces-class-action-lawsuit-against-discover-financial-services-dfs-and-encourages-long-term-investors-to-contact-the-firm\/","title":{"rendered":"CLASS ACTION LAWSUIT ALERT: Kaskela Law LLC Announces Class Action Lawsuit Against Discover Financial Services (DFS) and Encourages Long-Term Investors to Contact the Firm"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">PHILADELPHIA, Sept.  10, 2023  (GLOBE NEWSWIRE) &#8212; Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against Discover Financial Services (NYSE: DFS) (\u201cDiscover\u201d) on behalf of investors who purchased shares of the company\u2019s common stock between <strong><em>February 21, 2019 and August 14, 2023<\/em><\/strong>, inclusive.<\/p>\n<p align=\"left\">On July 19, 2023, Discover disclosed that it had misclassified some of its credit cards into higher pricing tiers, and that it was discussing the matter with regulators and warned it could face future regulatory actions. <strong><em>Following this news, shares of the company\u2019s stock declined $19.40 per share, or 16% in value, to close on July 20, 2023 at $102.83 per share, on unusually heavy trading volume.<\/em><\/strong><\/p>\n<p align=\"left\">Then, on August 14, 2023, Discover disclosed that Roger Hochschild was stepping down as President and CEO as well as giving up his position as a member of the company\u2019s board of directors. <strong><em>Following this news, shares of the company\u2019s stock declined an additional $9.69 per share, or 9.5% in value, to close on August 15, 2023 at $92.96 per share, again on unusually heavy trading volume.<\/em><\/strong><\/p>\n<p align=\"left\">Kaskela Law is investigating whether the members of Discover\u2019s board of directors violated the securities laws and\/or breached their fiduciary duties in connection with the above alleged misconduct.<\/p>\n<p><strong><em>Long-term Discover investors \u2013 including investors who purchased shares of the company\u2019s stock prior to February 21, 2019 \u2013 are encouraged to contact Kaskela Law LLC<\/em><\/strong><strong><em> (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 \u2013 0750, or by email (<\/em><\/strong><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=uCnCGf53tmvIpVOAAix3hXFgQCzqwiK-ktGBXRZdHxfEKIdafLSQEWGqlU1B7KZ1boIBwFobRedUlDM8CS4BNY31YSfnqSfKxBvOXhX-Nkw=\" rel=\"nofollow noopener\" target=\"_blank\"><strong><em>skaskela@kaskelalaw.com<\/em><\/strong><\/a><strong><em> \/ <\/em><\/strong><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=exiSVCxn3swYb5rAWHKOP9IBBf2YxxiJ84GvtRIfoUFigsHDWJ9bczw-DBF4RODKzA-R6DtlQmC4ZI06qp7Gq4VLkhm43GUO_GxhQg4ByI8=\" rel=\"nofollow noopener\" target=\"_blank\"><strong><em>abell@kaskelalaw.com<\/em><\/strong><\/a><strong><em>) or online at\u00a0<\/em><\/strong><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=99xd-qB2sqVgHCWJbSNg-OcTEjhlgwqHJWrmU4ZChHKYMXsuk2G-m23tuCo88tGNN-E98mtMFwqqWIPu1t_bh4lpACJXutFn_MdPBgwUaY2DW8QBTXzzwbeXKtLQISPj56xZY3f1CJEs1oAWdHuPAYpLYcNu5NNg_5PxHgvHpsGs8yAs8nXTx1IReT0FPfHh\" rel=\"nofollow noopener\" target=\"_blank\"><strong><em>https:\/\/kaskelalaw.com\/cases\/discover-financial-services\/<\/em><\/strong><\/a><br \/><strong><em>, for additional information about this investigation and their legal rights and options.<\/em><\/strong><\/p>\n<p align=\"left\">Kaskela Law exclusively represents investors in contingent-based securities fraud, corporate governance, and merger &amp; acquisition litigation. For additional information about Kaskela Law LLC please visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=x3yUr5TZC0sph2zrGiQiSfkULEy2Kn94PU1UGhE7VQV40g4edi6WHabxRbiXS4gQnLtCGV4EOiVV4raYppkOOrrbSjZbuZg0j7V8LB_vZqE=\" rel=\"nofollow noopener\" target=\"_blank\">www.kaskelalaw.com<\/a>.<\/p>\n<p align=\"left\">\n        <strong>CONTACT:<\/strong>\n      <\/p>\n<p align=\"left\">\n        <strong>KASKELA LAW LLC<\/strong><br \/>\n        <br \/>D. Seamus Kaskela, Esq.<br \/>Adrienne Bell, Esq.<br \/>18 Campus Blvd., Suite 100<br \/>Newtown Square, PA 19073<br \/>(888) 715 \u2013 1740<br \/>(484) 229 \u2013 0750<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=x3yUr5TZC0sph2zrGiQiSc73MLyvmOlXFIcdThjPKcKzWAQdVJrnqAxvR0DOayEfB_EEctZfua7cLDQwlqXyhBooe5tbEzYa2C0_LnHvAiM=\" rel=\"nofollow noopener\" target=\"_blank\">www.kaskelalaw.com<\/a><\/p>\n<p align=\"left\">This notice may constitute attorney advertising in certain jurisdictions.<\/p>\n<p \/>\n      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODkxOTU2NSM1ODA2OTk1IzIwOTk5MzU=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/NTIyYzAwZDItMjVmOS00MTkwLWE4MWMtNGJlMzQyMTUyNGIxLTExMTE1MDY=\/tiny\/Kaskela-Law.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>PHILADELPHIA, Sept. 10, 2023 (GLOBE NEWSWIRE) &#8212; Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against Discover Financial Services (NYSE: DFS) (\u201cDiscover\u201d) on behalf of investors who purchased shares of the company\u2019s common stock between February 21, 2019 and August 14, 2023, inclusive. On July 19, 2023, Discover disclosed that it had misclassified some of its credit cards into higher pricing tiers, and that it was discussing the matter with regulators and warned it could face future regulatory actions. Following this news, shares of the company\u2019s stock declined $19.40 per share, or 16% in value, to close on July 20, 2023 at $102.83 per share, on unusually heavy trading volume. Then, on August 14, 2023, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/class-action-lawsuit-alert-kaskela-law-llc-announces-class-action-lawsuit-against-discover-financial-services-dfs-and-encourages-long-term-investors-to-contact-the-firm\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;CLASS ACTION LAWSUIT ALERT: Kaskela Law LLC Announces Class Action Lawsuit Against Discover Financial Services (DFS) and Encourages Long-Term Investors to Contact the Firm&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-782936","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CLASS ACTION LAWSUIT ALERT: Kaskela Law LLC Announces Class Action Lawsuit Against Discover Financial Services (DFS) and Encourages Long-Term Investors to Contact the Firm - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/class-action-lawsuit-alert-kaskela-law-llc-announces-class-action-lawsuit-against-discover-financial-services-dfs-and-encourages-long-term-investors-to-contact-the-firm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CLASS ACTION LAWSUIT ALERT: Kaskela Law LLC Announces Class Action Lawsuit Against Discover Financial Services (DFS) and Encourages Long-Term Investors to Contact the Firm - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PHILADELPHIA, Sept. 10, 2023 (GLOBE NEWSWIRE) &#8212; Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against Discover Financial Services (NYSE: DFS) (\u201cDiscover\u201d) on behalf of investors who purchased shares of the company\u2019s common stock between February 21, 2019 and August 14, 2023, inclusive. On July 19, 2023, Discover disclosed that it had misclassified some of its credit cards into higher pricing tiers, and that it was discussing the matter with regulators and warned it could face future regulatory actions. Following this news, shares of the company\u2019s stock declined $19.40 per share, or 16% in value, to close on July 20, 2023 at $102.83 per share, on unusually heavy trading volume. Then, on August 14, 2023, &hellip; Continue reading &quot;CLASS ACTION LAWSUIT ALERT: Kaskela Law LLC Announces Class Action Lawsuit Against Discover Financial Services (DFS) and Encourages Long-Term Investors to Contact the Firm&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/class-action-lawsuit-alert-kaskela-law-llc-announces-class-action-lawsuit-against-discover-financial-services-dfs-and-encourages-long-term-investors-to-contact-the-firm\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-10T21:48:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODkxOTU2NSM1ODA2OTk1IzIwOTk5MzU=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/class-action-lawsuit-alert-kaskela-law-llc-announces-class-action-lawsuit-against-discover-financial-services-dfs-and-encourages-long-term-investors-to-contact-the-firm\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/class-action-lawsuit-alert-kaskela-law-llc-announces-class-action-lawsuit-against-discover-financial-services-dfs-and-encourages-long-term-investors-to-contact-the-firm\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"CLASS ACTION LAWSUIT ALERT: Kaskela Law LLC Announces Class Action Lawsuit Against Discover Financial Services (DFS) and Encourages Long-Term Investors to Contact the Firm\",\"datePublished\":\"2023-09-10T21:48:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/class-action-lawsuit-alert-kaskela-law-llc-announces-class-action-lawsuit-against-discover-financial-services-dfs-and-encourages-long-term-investors-to-contact-the-firm\\\/\"},\"wordCount\":338,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/class-action-lawsuit-alert-kaskela-law-llc-announces-class-action-lawsuit-against-discover-financial-services-dfs-and-encourages-long-term-investors-to-contact-the-firm\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODkxOTU2NSM1ODA2OTk1IzIwOTk5MzU=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/class-action-lawsuit-alert-kaskela-law-llc-announces-class-action-lawsuit-against-discover-financial-services-dfs-and-encourages-long-term-investors-to-contact-the-firm\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/class-action-lawsuit-alert-kaskela-law-llc-announces-class-action-lawsuit-against-discover-financial-services-dfs-and-encourages-long-term-investors-to-contact-the-firm\\\/\",\"name\":\"CLASS ACTION LAWSUIT ALERT: Kaskela Law LLC Announces Class Action Lawsuit Against Discover Financial Services (DFS) and Encourages Long-Term Investors to Contact the Firm - 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On July 19, 2023, Discover disclosed that it had misclassified some of its credit cards into higher pricing tiers, and that it was discussing the matter with regulators and warned it could face future regulatory actions. Following this news, shares of the company\u2019s stock declined $19.40 per share, or 16% in value, to close on July 20, 2023 at $102.83 per share, on unusually heavy trading volume. 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